The Meet Group (MEET) Trading 5.8% Higher

The Meet Group Inc. (NASDAQ:MEET) traded up 5.8% during trading on Wednesday . The stock traded as high as $3.25 and last traded at $3.27. 1,303,157 shares traded hands during trading, an increase of 16% from the average session volume of 1,123,118 shares. The stock had previously closed at $3.09.

Several equities research analysts recently commented on the stock. Roth Capital cut their price target on shares of The Meet Group from $4.00 to $3.25 and set a “buy” rating on the stock in a research note on Thursday, March 8th. Zacks Investment Research upgraded shares of The Meet Group from a “sell” rating to a “hold” rating and set a $3.25 price target on the stock in a research note on Wednesday, May 9th. Canaccord Genuity reiterated a “hold” rating and set a $3.00 price target on shares of The Meet Group in a research note on Thursday, May 3rd. ValuEngine lowered shares of The Meet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, TheStreet lowered shares of The Meet Group from a “c+” rating to a “d+” rating in a research note on Thursday, March 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $3.88.

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 company has a market cap of $224.01 million, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 1.14 and a beta of 1.32.

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

In other The Meet Group news, Director Jason Whitt sold 16,506 shares of The Meet Group 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 transaction, the director now directly owns 34,053 shares in the company, valued at $100,115.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.70% of the company’s stock.

Several large investors have recently modified their holdings of MEET. JPMorgan Chase & Co. boosted its holdings in shares of The Meet Group by 167.5% in the first quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock valued at $126,000 after acquiring an additional 37,677 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of The Meet Group in the fourth quarter valued at about $229,000. Symons Capital Management Inc. boosted its holdings in shares of The Meet Group by 55.7% in the first quarter. Symons Capital Management Inc. now owns 132,579 shares of the information services provider’s stock valued at $277,000 after acquiring an additional 47,421 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of The Meet Group by 46.0% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 104,250 shares of the information services provider’s stock valued at $294,000 after acquiring an additional 32,870 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of The Meet Group by 40.2% in the first quarter. Wells Fargo & Company MN now owns 155,670 shares of the information services provider’s stock valued at $325,000 after acquiring an additional 44,624 shares in the last quarter. 44.45% of the stock is currently owned by institutional investors and hedge funds.

About The Meet Group

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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