Meet Group (NASDAQ:MEET) Sees Large Volume Increase

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Shares of Meet Group Inc (NASDAQ:MEET) saw strong trading volume on Wednesday . 2,294,391 shares traded hands during trading, an increase of 66% from the previous session’s volume of 1,378,021 shares.The stock last traded at $3.63 and had previously closed at $3.44.

A number of equities research analysts recently weighed in on the company. CIBC assumed coverage on Meet Group in a research report on Friday, June 21st. They set an “outperform” rating and a $7.00 price objective on the stock. Canaccord Genuity set a $8.00 price objective on Meet Group and gave the company a “buy” rating in a research report on Wednesday, July 3rd. BidaskClub raised Meet Group from a “strong sell” rating to a “sell” rating in a research report on Friday. Aegis reaffirmed a “buy” rating and set a $6.25 price objective on shares of Meet Group in a research report on Thursday, July 11th. Finally, Roth Capital set a $8.00 price objective on Meet Group and gave the company a “buy” rating in a research report on Sunday, July 21st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Meet Group has a consensus rating of “Hold” and a consensus target price of $6.71.

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $262.33 million, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.42 and a beta of 1.47. The firm has a fifty day simple moving average of $3.50 and a two-hundred day simple moving average of $4.52.

Meet Group (NASDAQ:MEET) last issued its quarterly earnings results on Wednesday, July 31st. The information services provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $52.00 million during the quarter, compared to the consensus estimate of $50.67 million. Meet Group had a return on equity of 11.30% and a net margin of 4.53%. Equities analysts anticipate that Meet Group Inc will post 0.34 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale purchased a new position in shares of Meet Group in the second quarter worth about $35,000. Meritage Portfolio Management purchased a new position in shares of Meet Group in the second quarter worth about $38,000. Meeder Asset Management Inc. raised its stake in shares of Meet Group by 3,841.4% in the second quarter. Meeder Asset Management Inc. now owns 15,332 shares of the information services provider’s stock worth $54,000 after purchasing an additional 14,943 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Meet Group in the second quarter worth about $58,000. Finally, Schroder Investment Management Group purchased a new position in shares of Meet Group in the second quarter worth about $67,000. 66.84% of the stock is owned by institutional investors and hedge funds.

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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