Meet Group Inc (NASDAQ:MEET) traded down 7.9% during mid-day trading on Friday . The company traded as low as $5.23 and last traded at $5.35. 2,504,524 shares changed hands during trading, an increase of 26% from the average session volume of 1,986,053 shares. The stock had previously closed at $5.81.
A number of equities research analysts have recently issued reports on the stock. Roth Capital boosted their price objective on shares of Meet Group from $6.75 to $8.00 in a research report on Wednesday. BidaskClub upgraded shares of Meet Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, ValuEngine cut shares of Meet Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.75.
The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $415.55 million, a price-to-earnings ratio of 17.26, a PEG ratio of 1.02 and a beta of 1.15.
Meet Group (NASDAQ:MEET) last posted its earnings results on Wednesday, November 7th. The information services provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $45.72 million for the quarter, compared to the consensus estimate of $43.85 million. Meet Group had a negative net margin of 42.63% and a positive return on equity of 10.15%. As a group, equities analysts forecast that Meet Group Inc will post 0.22 EPS for the current year.
In other news, Director Spencer Garrett Rhodes purchased 11,985 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The shares were bought at an average cost of $3.77 per share, for a total transaction of $45,183.45. Following the acquisition, the director now owns 80,466 shares of the company’s stock, valued at approximately $303,356.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Luxor Capital Group, Lp purchased 155,229 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The shares were purchased at an average price of $4.40 per share, for a total transaction of $683,007.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,037,361 shares of company stock worth $13,627,251 over the last quarter. 6.10% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Northern Trust Corp grew its stake in Meet Group by 1.7% in the 2nd quarter. Northern Trust Corp now owns 754,655 shares of the information services provider’s stock worth $3,380,000 after acquiring an additional 12,465 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in Meet Group by 50.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 52,089 shares of the information services provider’s stock worth $258,000 after acquiring an additional 17,494 shares in the last quarter. Teachers Advisors LLC grew its stake in Meet Group by 14.5% in the 3rd quarter. Teachers Advisors LLC now owns 156,873 shares of the information services provider’s stock worth $777,000 after acquiring an additional 19,819 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Meet Group by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,018,805 shares of the information services provider’s stock worth $26,964,000 after acquiring an additional 20,013 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Meet Group by 17.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 142,044 shares of the information services provider’s stock worth $637,000 after acquiring an additional 20,844 shares in the last quarter. Institutional investors own 56.08% of the company’s stock.
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About Meet Group (NASDAQ:MEET)
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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