MeetMe, Inc. (NASDAQ:MEET) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 8,500,064 shares, a decline of 10.2% from the August 15th total of 9,466,898 shares. Currently, 12.2% of the shares of the company are short sold. Based on an average daily volume of 1,115,671 shares, the days-to-cover ratio is presently 7.6 days.

Shares of MeetMe (NASDAQ MEET) opened at 3.91 on Friday. The firm has a market capitalization of $280.73 million, a P/E ratio of 16.36 and a beta of 0.80. The stock’s 50 day moving average is $3.92 and its 200-day moving average is $4.90. MeetMe has a 52-week low of $3.41 and a 52-week high of $6.45.

MeetMe (NASDAQ:MEET) last posted its earnings results on Thursday, August 3rd. The information services provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. MeetMe had a net margin of 15.95% and a return on equity of 11.47%. The firm had revenue of $31.33 million during the quarter, compared to analysts’ expectations of $30.70 million. During the same quarter in the prior year, the firm earned $0.09 EPS. MeetMe’s quarterly revenue was up 91.2% on a year-over-year basis. On average, equities analysts forecast that MeetMe will post $0.43 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC bought a new position in shares of MeetMe in the second quarter valued at approximately $304,000. Alps Advisors Inc. boosted its holdings in shares of MeetMe by 0.3% in the second quarter. Alps Advisors Inc. now owns 95,579 shares of the information services provider’s stock valued at $483,000 after acquiring an additional 245 shares in the last quarter. Rice Hall James & Associates LLC boosted its holdings in shares of MeetMe by 1.0% in the second quarter. Rice Hall James & Associates LLC now owns 52,360 shares of the information services provider’s stock valued at $264,000 after acquiring an additional 539 shares in the last quarter. American International Group Inc. boosted its holdings in shares of MeetMe by 7.1% in the first quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock valued at $150,000 after acquiring an additional 1,683 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in shares of MeetMe by 2.1% in the first quarter. Gotham Asset Management LLC now owns 112,440 shares of the information services provider’s stock valued at $662,000 after acquiring an additional 2,318 shares in the last quarter. Hedge funds and other institutional investors own 56.31% of the company’s stock.

A number of equities research analysts have weighed in on MEET shares. Roth Capital set a $8.00 price objective on MeetMe and gave the company a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised MeetMe from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine lowered MeetMe from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. BidaskClub lowered MeetMe from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, JMP Securities lowered their price objective on MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating on the stock in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $7.90.

TRADEMARK VIOLATION NOTICE: “MeetMe, Inc. (MEET) Short Interest Down 10.2% in August” was originally published by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/09/16/meetme-inc-meet-short-interest-down-10-2-in-august.html.

About MeetMe

The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.

Receive News & Ratings for MeetMe Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MeetMe Inc. and related companies with MarketBeat.com's FREE daily email newsletter.