Meet Group (MEET) Upgraded to Buy by BidaskClub

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BidaskClub upgraded shares of Meet Group (NASDAQ:MEET) from a hold rating to a buy rating in a research note released on Wednesday.

Several other analysts have also issued reports on MEET. Zacks Investment Research upgraded shares of Meet Group from a sell rating to a hold rating and set a $3.25 price target on the stock in a research report on Wednesday, May 9th. ValuEngine upgraded shares of Meet Group from a hold rating to a buy rating in a research report on Monday, July 2nd. Canaccord Genuity upgraded shares of Meet Group from a hold rating to a buy rating and increased their price target for the stock from $3.00 to $6.00 in a research report on Thursday, July 19th. Finally, TheStreet upgraded shares of Meet Group from a d+ rating to a c- rating in a research report on Monday, August 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $4.63.

NASDAQ MEET opened at $5.07 on Wednesday. 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 cap of $365.72 million, a P/E ratio of 16.35, a PEG ratio of 1.28 and a beta of 1.59. Meet Group has a 1 year low of $1.84 and a 1 year high of $5.35.

Meet Group (NASDAQ:MEET) last posted its quarterly earnings results on Wednesday, August 1st. The information services provider reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The business had revenue of $42.80 million for the quarter, compared to analyst estimates of $38.25 million. Meet Group had a negative net margin of 45.79% and a positive return on equity of 10.24%. equities analysts expect that Meet Group will post 0.2 EPS for the current year.

In other Meet Group news, CEO Geoffrey Cook sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $4.17, for a total value of $1,042,500.00. Following the sale, the chief executive officer now owns 1,306,562 shares in the company, valued at $5,448,363.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jason Whitt sold 18,500 shares of the firm’s stock in a transaction that occurred on Friday, July 13th. The shares were sold at an average price of $4.02, for a total transaction of $74,370.00. Following the completion of the sale, 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. Insiders sold 272,287 shares of company stock worth $1,135,426 in the last 90 days. Company insiders own 6.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in Meet Group by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 6,018,805 shares of the information services provider’s stock valued at $26,964,000 after buying an additional 20,013 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Meet Group by 17.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 142,044 shares of the information services provider’s stock valued at $637,000 after buying an additional 20,844 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in Meet Group in the second quarter valued at approximately $109,000. Northern Trust Corp boosted its position in Meet Group by 3.6% in the first quarter. Northern Trust Corp now owns 742,190 shares of the information services provider’s stock valued at $1,552,000 after buying an additional 26,067 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in Meet Group in the second quarter valued at approximately $155,000. Hedge funds and other institutional investors own 51.78% of the company’s stock.

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 leverages a powerful live-streaming video platform, empowering global community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, and Tagged, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

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