Traders Purchase Large Volume of Meet Group Call Options (MEET)
Meet Group Inc (NASDAQ:MEET) was the recipient of unusually large options trading activity on Thursday. Investors acquired 1,401 call options on the stock. This is an increase of 860% compared to the average volume of 146 call options.
Shares of NASDAQ:MEET opened at $5.03 on Friday. Meet Group has a 52 week low of $1.84 and a 52 week high of $5.13. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $359.14 million, a price-to-earnings ratio of 18.89, a PEG ratio of 1.29 and a beta of 1.48.
Meet Group (NASDAQ:MEET) last announced its quarterly earnings data on Wednesday, August 1st. The information services provider reported $0.08 EPS for the quarter, beating the Zacks’ 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 the consensus estimate of $38.25 million. research analysts forecast that Meet Group will post 0.19 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY purchased a new position in shares of Meet Group in the 2nd quarter valued at $109,000. JPMorgan Chase & Co. grew its position in shares of Meet Group by 167.5% in the 1st quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock valued at $126,000 after buying an additional 37,677 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Meet Group in the 2nd quarter valued at $155,000. Parallel Advisors LLC purchased a new position in shares of Meet Group in the 2nd quarter valued at $224,000. Finally, Symons Capital Management Inc. grew its position in shares of Meet Group by 55.7% in the 1st quarter. Symons Capital Management Inc. now owns 132,579 shares of the information services provider’s stock valued at $277,000 after buying an additional 47,421 shares during the last quarter. 51.78% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on MEET. TheStreet raised shares of Meet Group from a “d+” rating to a “c-” rating in a research report on Monday. ValuEngine raised shares of Meet Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Canaccord Genuity set a $6.00 price objective on shares of Meet Group and gave the company a “buy” rating in a research report on Tuesday, August 21st. BidaskClub raised shares of Meet Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research downgraded shares of Meet Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $4.63.
About Meet Group
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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