William Alena Buys 7,500 Shares of MeetMe, Inc. (MEET) Stock
MeetMe, Inc. (NASDAQ:MEET) CRO William Alena bought 7,500 shares of the stock in a transaction on Friday, November 10th. The shares were bought at an average price of $2.35 per share, for a total transaction of $17,625.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
MeetMe, Inc. (NASDAQ:MEET) traded up $0.09 during trading on Thursday, reaching $2.44. 1,686,309 shares of the company traded hands, compared to its average volume of 1,546,472. The stock has a market cap of $175.21, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05. MeetMe, Inc. has a one year low of $2.19 and a one year high of $6.45.
MeetMe (NASDAQ:MEET) last released its earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The company had revenue of $32.25 million during the quarter, compared to analyst estimates of $32.33 million. MeetMe had a net margin of 11.90% and a return on equity of 10.85%. The firm’s quarterly revenue was up 87.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. sell-side analysts expect that MeetMe, Inc. will post 0.25 EPS for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in MEET. Bank of New York Mellon Corp increased its holdings in MeetMe by 8.3% in the 1st quarter. Bank of New York Mellon Corp now owns 325,789 shares of the information services provider’s stock worth $1,919,000 after acquiring an additional 25,037 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in MeetMe in the 1st quarter worth approximately $177,000. American International Group Inc. grew its holdings in MeetMe by 7.1% during the 1st quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock valued at $150,000 after buying an additional 1,683 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 buying an additional 493,038 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 buying an additional 411,375 shares in the last quarter. 56.93% of the stock is owned by institutional investors.
MEET has been the topic of several recent research reports. JMP Securities cut shares of MeetMe from an “outperform” rating to a “market perform” rating and set a $6.00 price objective on the stock. in a research note on Thursday, November 9th. Canaccord Genuity cut shares of MeetMe from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a research note on Thursday, November 9th. Roth Capital reiterated a “buy” rating and issued a $7.25 price objective on shares of MeetMe in a research note on Wednesday, October 25th. Zacks Investment Research upgraded shares of MeetMe from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Finally, BidaskClub cut shares of MeetMe from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $8.06.
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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