MeetMe Inc (NASDAQ:MEET) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “MeetMe, Inc. owns and operates a social network. It enables users to meet new people through social games and apps, monetized by both advertising and virtual currency. The company operates MeetMe.com, Quepasa.com and MeetMe apps on iPhone and Android. MeetMe, Inc., formerly known as Quepasa Corporation, is headquartered in New Hope, Pennsylvania. “

A number of other equities research analysts also recently issued reports on the company. Loop Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of MeetMe in a research report on Wednesday, October 5th. Roth Capital reiterated a “buy” rating on shares of MeetMe in a research report on Saturday, October 1st. Finally, JMP Securities reiterated a “buy” rating on shares of MeetMe in a research report on Tuesday, June 28th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. MeetMe has an average rating of “Buy” and an average target price of $6.50.

Analyst Recommendations for MeetMe (NASDAQ:MEET)

MeetMe (NASDAQ:MEET) opened at 5.53 on Tuesday. The firm has a market capitalization of $290.23 million, a P/E ratio of 8.06 and a beta of 1.62. MeetMe has a one year low of $2.19 and a one year high of $8.11. The firm’s 50-day moving average price is $5.79 and its 200 day moving average price is $4.98.

MeetMe (NASDAQ:MEET) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $16.40 million for the quarter, compared to the consensus estimate of $15.27 million. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue was up 47.8% compared to the same quarter last year. On average, equities analysts anticipate that MeetMe will post $0.43 earnings per share for the current fiscal year.

In related news, Director Spencer Garrett Rhodes sold 70,182 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $7.35, for a total value of $515,837.70. Following the transaction, the director now owns 37,145 shares of the company’s stock, valued at $273,015.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Frederic Beckley sold 265,401 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $7.13, for a total value of $1,892,309.13. Following the transaction, the general counsel now directly owns 192,580 shares in the company, valued at $1,373,095.40. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of MeetMe during the second quarter worth about $109,000. Creative Planning boosted its position in shares of MeetMe by 140.0% in the third quarter. Creative Planning now owns 17,999 shares of the company’s stock worth $112,000 after buying an additional 10,499 shares during the period. Tower Research Capital LLC TRC boosted its position 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. State Street Corp bought a new position in shares of MeetMe during the first quarter worth about $120,000. Finally, American International Group Inc. boosted its position in shares of MeetMe by 11,780.5% in the second quarter. American International Group Inc. now owns 23,761 shares of the company’s stock worth $127,000 after buying an additional 23,561 shares during the period. 46.40% of the stock is currently owned by hedge funds and other institutional investors.

About MeetMe

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.

5 Day Chart for NASDAQ:MEET

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