MeetMe, Inc. (NASDAQ:MEET) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Monday, July 24th.

MEET has been the subject of a number of other reports. ValuEngine cut MeetMe from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research cut MeetMe from a “buy” rating to a “sell” rating in a report on Saturday, May 13th. Loop Capital reiterated a “buy” rating and set a $9.00 price target on shares of MeetMe in a report on Wednesday, May 10th. Finally, Roth Capital set a $9.00 target price on MeetMe and gave the company a “buy” rating in a report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $7.90.

Shares of MeetMe (MEET) traded up 1.12% during mid-day trading on Monday, hitting $3.60. 1,760,495 shares of the stock were exchanged. The stock has a market cap of $258.47 million, a price-to-earnings ratio of 15.06 and a beta of 0.86. The company has a 50-day moving average price of $4.72 and a 200-day moving average price of $5.04. MeetMe has a 12 month low of $3.41 and a 12 month high of $6.47.

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

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Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in shares of MeetMe by 53.1% in the first quarter. Goldman Sachs Group Inc. now owns 594,240 shares of the information services provider’s stock worth $3,500,000 after buying an additional 206,126 shares during the period. Legato Capital Management LLC purchased a new position in shares of MeetMe during the first quarter worth approximately $7,000,000. Cadence Capital Management LLC boosted its position in shares of MeetMe by 49.1% in the first quarter. Cadence Capital Management LLC now owns 346,898 shares of the information services provider’s stock worth $2,043,000 after buying an additional 114,179 shares during the period. Quotient Investors LLC purchased a new position in shares of MeetMe during the first quarter worth approximately $272,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of MeetMe by 40.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,065,345 shares of the information services provider’s stock worth $20,043,000 after buying an additional 1,167,798 shares during the period. Institutional investors own 50.15% of the company’s stock.

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.

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