MeetMe Inc. (MEET) Stock Rating Reaffirmed by Loop Capital
MeetMe Inc. (NASDAQ:MEET)‘s stock had its “buy” rating reiterated by Loop Capital in a research report issued to clients and investors on Wednesday. They presently have a $9.00 price target on the stock. Loop Capital’s price objective would suggest a potential upside of 54.11% from the company’s current price.
Other research analysts also recently issued reports about the stock. Roth Capital restated a “buy” rating on shares of MeetMe in a research note on Saturday, October 1st. JMP Securities reiterated a “buy” rating on shares of MeetMe in a research note on Tuesday, June 28th. Finally, Zacks Investment Research upgraded shares of MeetMe from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research note on Thursday, July 7th. Seven investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $6.50.
MeetMe (NASDAQ:MEET) opened at 5.84 on Wednesday. MeetMe has a 1-year low of $1.81 and a 1-year high of $8.11. The firm has a market capitalization of $306.50 million, a price-to-earnings ratio of 8.51 and a beta of 1.62. The firm has a 50-day moving average of $5.72 and a 200-day moving average of $4.83.
MeetMe (NASDAQ:MEET) last announced its earnings results on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.04. The business earned $16.40 million during the quarter, compared to the consensus estimate of $15.27 million. MeetMe had a net margin of 56.35% and a return on equity of 15.75%. The business’s quarterly revenue was up 47.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, analysts expect that MeetMe will post $0.43 earnings per share for the current year.
In other MeetMe news, General Counsel Frederic Beckley sold 265,401 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $7.13, for a total transaction of $1,892,309.13. Following the sale, the general counsel now directly owns 192,580 shares of the company’s stock, valued at $1,373,095.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO William Alena sold 458,626 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $7.07, for a total transaction of $3,242,485.82. Following the sale, the executive now directly owns 255,805 shares in the company, valued at $1,808,541.35. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
Several hedge funds have recently modified their holdings of MEET. BlackRock Institutional Trust Company N.A. boosted its stake in shares of MeetMe by 41.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 287,698 shares of the company’s stock worth $817,000 after buying an additional 84,509 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of MeetMe by 5,244,088.9% in the first quarter. JPMorgan Chase & Co. now owns 471,977 shares of the company’s stock worth $1,340,000 after buying an additional 471,968 shares during the period. Menta Capital LLC acquired a new stake in shares of MeetMe during the first quarter worth $171,000. State Street Corp acquired a new stake in shares of MeetMe during the first quarter worth $120,000. Finally, AXA boosted its stake in shares of MeetMe by 335.4% in the first quarter. AXA now owns 214,200 shares of the company’s stock worth $608,000 after buying an additional 165,000 shares during the period. 46.42% of the stock is currently owned by institutional investors.
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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