ValuEngine upgraded shares of Meet Group (NASDAQ:MEET) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Several other brokerages have also recently issued reports on MEET. Canaccord Genuity raised shares of Meet Group from a hold rating to a buy rating and lifted their target price for the stock from $3.00 to $6.00 in a research note on Thursday, July 19th. Zacks Investment Research raised shares of Meet Group from a sell rating to a hold rating and set a $3.25 target price on the stock in a research note on Wednesday, May 9th. Finally, BidaskClub raised shares of Meet Group from a sell rating to a hold rating in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $4.63.

Shares of MEET opened at $5.03 on Tuesday. Meet Group has a 52-week low of $1.84 and a 52-week high of $5.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $351.09 million, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.26 and a beta of 1.48.

Meet Group (NASDAQ:MEET) last announced its earnings results on Wednesday, August 1st. The information services provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Meet Group had a negative net margin of 45.79% and a positive return on equity of 10.24%. The company had revenue of $42.80 million for the quarter, compared to analysts’ expectations of $38.25 million. analysts forecast that Meet Group will post 0.19 earnings per share for the current fiscal year.

In other news, CEO Geoffrey Cook sold 250,000 shares of Meet Group stock in a transaction on Friday, June 15th. The stock was sold at an average price of $4.17, for a total transaction of $1,042,500.00. Following the transaction, the chief executive officer now owns 1,306,562 shares in the company, valued at approximately $5,448,363.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jason Whitt sold 18,500 shares of Meet Group stock in a transaction on Friday, July 13th. The stock was sold at an average price of $4.02, for a total value of $74,370.00. Following the transaction, the director now owns 62,382 shares in the company, valued at approximately $250,775.64. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MEET. Deutsche Bank AG raised its holdings in shares of Meet Group by 92.5% during the 4th quarter. Deutsche Bank AG now owns 149,512 shares of the information services provider’s stock worth $420,000 after acquiring an additional 71,849 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Meet Group by 40.2% during the 1st quarter. Wells Fargo & Company MN now owns 155,670 shares of the information services provider’s stock worth $325,000 after acquiring an additional 44,624 shares during the period. Intrinsic Edge Capital Management LLC purchased a new position in shares of Meet Group during the 1st quarter worth $952,000. Mackay Shields LLC purchased a new position in shares of Meet Group during the 1st quarter worth $335,000. Finally, Symons Capital Management Inc. raised its holdings in shares of Meet Group by 55.7% during the 1st quarter. Symons Capital Management Inc. now owns 132,579 shares of the information services provider’s stock worth $277,000 after acquiring an additional 47,421 shares during the period. Institutional investors and hedge funds own 51.78% of the company’s stock.

Meet Group Company Profile

The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company's applications include MeetMe, LOVOO, Skout, and Tagged that keep mobile daily active users entertained and engaged, and originate untold numbers of casual chats, friendships, dates, and marriages.

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