MeetMe Inc. (NASDAQ:MEET) Given Consensus Rating of “Buy” by Brokerages
Shares of MeetMe Inc. (NASDAQ:MEET) have been assigned an average rating of “Buy” from the seven research firms that are currently covering the company. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $7.00.
A number of equities research analysts have commented on MEET shares. JMP Securities reissued a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Roth Capital set a $8.50 price objective on MeetMe and gave the company a “buy” rating in a research note on Tuesday, September 6th. Loop Capital started coverage on MeetMe in a research note on Thursday, August 25th. They issued a “buy” rating for the company. Finally, Zacks Investment Research raised MeetMe from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Thursday, July 7th.
MeetMe (NASDAQ:MEET) traded up 0.35% during midday trading on Wednesday, reaching $5.69. The company had a trading volume of 941,287 shares. MeetMe has a 12-month low of $1.52 and a 12-month high of $8.11. The stock’s 50 day moving average is $6.07 and its 200 day moving average is $4.60. The firm has a market capitalization of $298.63 million, a price-to-earnings ratio of 8.29 and a beta of 1.81.
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MeetMe (NASDAQ:MEET) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.04. MeetMe had a return on equity of 15.75% and a net margin of 56.35%. The firm earned $16.40 million during the quarter, compared to analysts’ expectations of $15.27 million. During the same quarter last year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was up 47.8% compared to the same quarter last year. Equities research analysts expect that MeetMe will post $0.42 earnings per share for the current year.
In related news, General Counsel Frederic Beckley sold 265,401 shares of MeetMe stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $7.13, for a total transaction of $1,892,309.13. Following the transaction, the general counsel now owns 192,580 shares of the company’s stock, valued at $1,373,095.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ernesto Cruz sold 137,500 shares of MeetMe stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $4.80, for a total value of $660,000.00. Following the sale, the director now owns 52,367 shares in the company, valued at $251,361.60. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of MEET. Bridgeway Capital Management Inc. raised its stake in shares of MeetMe by 0.7% in the second quarter. Bridgeway Capital Management Inc. now owns 77,331 shares of the company’s stock worth $412,000 after buying an additional 500 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of MeetMe by 3.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 119,500 shares of the company’s stock worth $339,000 after buying an additional 4,400 shares during the period. Acrospire Investment Management LLC raised its stake in shares of MeetMe by 21.0% in the second quarter. Acrospire Investment Management LLC now owns 34,852 shares of the company’s stock worth $186,000 after buying an additional 6,055 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of MeetMe by 125.9% in the second quarter. Tower Research Capital LLC TRC now owns 22,183 shares of the company’s stock worth $118,000 after buying an additional 12,361 shares during the period. Finally, BlackRock Inc. acquired a new stake in shares of MeetMe during the second quarter worth approximately $109,000. Institutional investors and hedge funds own 46.42% of the company’s stock.
MeetMe Company Profile
MeetMe, Inc is a social media technology company that owns and operates the MeetMe mobile applications and meetme.com. The Company is a location-based social network for meeting new people both on the Web and on mobile platforms, including on iPhone, Android, iPad and other tablets that facilitate interactions among users.
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