The Meet Group (MEET) Trading Up 5.8%

The Meet Group Inc. (NASDAQ:MEET)’s share price was up 5.8% during trading on Wednesday . The stock traded as high as $3.25 and last traded at $3.27. Approximately 1,303,157 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 1,123,118 shares. The stock had previously closed at $3.09.

Several equities analysts have commented on MEET shares. Zacks Investment Research cut shares of The Meet Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Canaccord Genuity reissued a “hold” rating and issued a $4.00 price target on shares of The Meet Group in a research report on Wednesday, April 4th. TheStreet cut shares of The Meet Group from a “c+” rating to a “d+” rating in a research report on Thursday, March 8th. ValuEngine cut shares of The Meet Group from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Roth Capital decreased their price target on shares of The Meet Group from $4.00 to $3.25 and set a “buy” rating for the company in a research report on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $3.88.

The firm has a market cap of $224.01 million, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.14 and a beta of 1.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.10 and a current ratio of 1.10.

The Meet Group (NASDAQ:MEET) last announced its quarterly earnings data on Wednesday, May 2nd. The information services provider reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. The Meet Group had a negative net margin of 48.73% and a positive return on equity of 9.49%. The business had revenue of $37.64 million for the quarter, compared to analyst estimates of $34.15 million. research analysts forecast that The Meet Group Inc. will post 0.14 EPS for the current year.

In other news, Director Jason Whitt sold 16,506 shares of the firm’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $2.94, for a total value of $48,527.64. Following the sale, the director now directly owns 34,053 shares in the company, valued at approximately $100,115.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.70% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its stake in The Meet Group by 22.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 121,200 shares of the information services provider’s stock worth $342,000 after acquiring an additional 22,200 shares in the last quarter. Northern Trust Corp raised its stake in The Meet Group by 3.6% during the 1st quarter. Northern Trust Corp now owns 742,190 shares of the information services provider’s stock worth $1,552,000 after acquiring an additional 26,067 shares in the last quarter. BlackRock Inc. raised its stake in The Meet Group by 0.7% during the 4th quarter. BlackRock Inc. now owns 4,092,641 shares of the information services provider’s stock worth $11,542,000 after acquiring an additional 27,956 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in The Meet Group by 46.0% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 104,250 shares of the information services provider’s stock worth $294,000 after acquiring an additional 32,870 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in The Meet Group by 167.5% during the 1st quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock worth $126,000 after acquiring an additional 37,677 shares in the last quarter. Hedge funds and other institutional investors own 44.45% of the company’s stock.

The Meet Group Company Profile

The Meet Group, Inc owns and operates a social network for meeting new people primarily on mobile platforms in the United States. The company owns and operates the MeetMe, Skout, Tagged, Hi5, and LOVOO mobile applications; and Websites, including meetme.com, skout.com, tagged.com, hi5.com, and lovoo.com, as well as Social Theater, a viral advertising platform.

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