Insider Buying: Meet Group Inc (MEET) Director Buys 11,985 Shares of Stock

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Meet Group Inc (NASDAQ:MEET) Director Spencer Garrett Rhodes bought 11,985 shares of the business’s stock in a transaction dated Monday, November 12th. The shares were acquired at an average cost of $3.77 per share, for a total transaction of $45,183.45. Following the purchase, the director now owns 80,466 shares of the company’s stock, valued at approximately $303,356.82. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of MEET traded down $0.15 during mid-day trading on Wednesday, reaching $3.80. 654,600 shares of the company’s stock traded hands, compared to its average volume of 1,060,147. Meet Group Inc has a 12 month low of $1.84 and a 12 month high of $5.63. The stock has a market cap of $277.28 million, a price-to-earnings ratio of 12.26, a P/E/G ratio of 0.94 and a beta of 1.53. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.14.

Meet Group (NASDAQ:MEET) last announced its quarterly earnings data on Wednesday, November 7th. The information services provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Meet Group had a positive return on equity of 10.15% and a negative net margin of 42.63%. The company had revenue of $45.72 million for the quarter, compared to analysts’ expectations of $43.85 million. As a group, analysts predict that Meet Group Inc will post 0.2 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in MEET. FNY Investment Advisers LLC bought a new position in Meet Group in the third quarter worth approximately $108,000. Metropolitan Life Insurance Co. NY bought a new position in Meet Group in the second quarter worth approximately $109,000. Virtu Financial LLC bought a new position in Meet Group in the third quarter worth approximately $110,000. JPMorgan Chase & Co. grew its stake in Meet Group by 167.5% in the first quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock worth $126,000 after purchasing an additional 37,677 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Meet Group by 316.6% in the third quarter. Bank of Montreal Can now owns 27,547 shares of the information services provider’s stock worth $135,000 after purchasing an additional 20,935 shares in the last quarter. 51.42% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on MEET shares. ValuEngine raised Meet Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. BidaskClub raised Meet Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Canaccord Genuity set a $6.00 target price on Meet Group and gave the company a “buy” rating in a research note on Tuesday, August 21st. Finally, TheStreet raised Meet Group from a “d+” rating to a “c-” rating in a research note on Monday, August 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Meet Group has an average rating of “Hold” and a consensus target price of $4.17.

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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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Insider Buying and Selling by Quarter for Meet Group (NASDAQ:MEET)

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