Alliancebernstein L.P. raised its holdings in shares of MeetMe, Inc. (NASDAQ:MEET) by 440.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,300 shares of the information services provider’s stock after purchasing an additional 57,300 shares during the quarter. Alliancebernstein L.P. owned 0.10% of MeetMe worth $355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in MeetMe by 18.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,815,168 shares of the information services provider’s stock valued at $28,361,000 after purchasing an additional 749,823 shares in the last quarter. Vanguard Group Inc. grew its stake in MeetMe by 24.3% during the 1st quarter. Vanguard Group Inc. now owns 2,517,889 shares of the information services provider’s stock valued at $14,831,000 after purchasing an additional 493,038 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its stake in MeetMe by 29.1% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 1,319,351 shares of the information services provider’s stock valued at $6,663,000 after purchasing an additional 297,510 shares in the last quarter. Geode Capital Management LLC grew its stake in MeetMe by 60.8% during the 1st quarter. Geode Capital Management LLC now owns 1,088,207 shares of the information services provider’s stock valued at $6,408,000 after purchasing an additional 411,375 shares in the last quarter. Finally, Foundry Partners LLC grew its stake in MeetMe by 17.1% during the 2nd quarter. Foundry Partners LLC now owns 874,425 shares of the information services provider’s stock valued at $4,416,000 after purchasing an additional 127,775 shares in the last quarter. Hedge funds and other institutional investors own 56.52% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “MeetMe, Inc. (MEET) Holdings Raised by Alliancebernstein L.P.” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/11/08/meetme-inc-meet-holdings-raised-by-alliancebernstein-l-p.html.

A number of brokerages have weighed in on MEET. JMP Securities lowered their price objective on MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating for the company in a research note on Monday, August 7th. Zacks Investment Research lowered MeetMe from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. BidaskClub lowered MeetMe from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 15th. Finally, Roth Capital set a $8.00 target price on MeetMe and gave the stock a “buy” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. MeetMe has an average rating of “Hold” and a consensus target price of $8.06.

Shares of MeetMe, Inc. (NASDAQ:MEET) opened at $3.39 on Wednesday. The stock has a market capitalization of $245.55, a P/E ratio of 9.77, a P/E/G ratio of 0.60 and a beta of 1.05. MeetMe, Inc. has a 1-year low of $3.29 and a 1-year high of $6.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.33 and a quick ratio of 2.33.

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.

Institutional Ownership by Quarter for MeetMe (NASDAQ:MEET)

Receive News & Stock Ratings for MeetMe Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MeetMe Inc. and related stocks with our FREE daily email newsletter.