Meet Group (MEET) Shares Down 5.5%

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Shares of Meet Group Inc (NASDAQ:MEET) traded down 5.5% on Wednesday . The company traded as low as $3.59 and last traded at $3.61. 1,492,448 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 1,423,917 shares. The stock had previously closed at $3.82.

A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Meet Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Zacks Investment Research raised shares of Meet Group from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Wednesday, May 15th. ValuEngine lowered shares of Meet Group from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Northland Securities reissued a “buy” rating and issued a $7.00 price target on shares of Meet Group in a report on Thursday, May 9th. Finally, Aegis assumed coverage on shares of Meet Group in a report on Tuesday, May 14th. They issued a “buy” rating and a $6.25 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $6.35.

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $280.94 million, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 0.53 and a beta of 1.76.

Meet Group (NASDAQ:MEET) last released its earnings results on Wednesday, May 8th. The information services provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Meet Group had a net margin of 3.47% and a return on equity of 10.76%. The firm had revenue of $49.51 million during the quarter, compared to analyst estimates of $47.70 million. As a group, equities research analysts predict that Meet Group Inc will post 0.34 earnings per share for the current year.

In other Meet Group news, major shareholder Luxor Capital Group, Lp bought 125,100 shares of the stock in a transaction on Friday, April 5th. The stock was purchased at an average price of $5.30 per share, with a total value of $663,030.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Spencer B. Grimes bought 11,300 shares of the stock in a transaction on Friday, May 10th. The shares were acquired at an average cost of $4.40 per share, with a total value of $49,720.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 385,700 shares of company stock valued at $1,973,554 in the last ninety days. Company insiders own 6.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB acquired a new stake in Meet Group during the 1st quarter worth $895,000. Luxor Capital Group LP grew its holdings in Meet Group by 19.8% during the 1st quarter. Luxor Capital Group LP now owns 11,857,344 shares of the information services provider’s stock worth $59,642,000 after acquiring an additional 1,961,928 shares during the period. C M Bidwell & Associates Ltd. bought a new position in shares of Meet Group during the first quarter worth $68,000. SEI Investments Co bought a new position in shares of Meet Group during the first quarter worth $437,000. Finally, Jefferies Group LLC boosted its position in shares of Meet Group by 24.4% during the first quarter. Jefferies Group LLC now owns 20,904 shares of the information services provider’s stock worth $105,000 after purchasing an additional 4,100 shares in the last quarter. 67.03% of the stock is owned by hedge funds and other institutional investors.

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Meet Group Company Profile (NASDAQ:MEET)

The Meet Group, Inc operates a portfolio of mobile social entertainment applications to meet the need for human connection worldwide. The company leverages a live-streaming video platform, empowering community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, Tagged, and Growlr, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

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