According to Zacks, “MeetMe, Inc. owns and operates a social network. It enables users to meet new people through social games and apps, monetized by both advertising and virtual currency. The company operates MeetMe.com, Quepasa.com and MeetMe apps on iPhone and Android. MeetMe, Inc., formerly known as Quepasa Corporation, is headquartered in New Hope, Pennsylvania. “
Several other research firms have also issued reports on MEET. Roth Capital reiterated a buy rating on shares of MeetMe in a research note on Wednesday, June 15th. JMP Securities reiterated a buy rating on shares of MeetMe in a research note on Tuesday, June 28th. Finally, Loop Capital assumed coverage on MeetMe in a research note on Thursday, August 25th. They issued a buy rating on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $6.50.
Shares of MeetMe (NASDAQ:MEET) traded up 0.51% on Wednesday, reaching $5.93. 517,098 shares of the company’s stock were exchanged. The company’s 50 day moving average is $5.70 and its 200-day moving average is $4.82. The stock has a market cap of $311.22 million, a price-to-earnings ratio of 8.64 and a beta of 1.62. MeetMe has a one year low of $1.77 and a one year high of $8.11.
MeetMe (NASDAQ:MEET) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.05 by $0.04. The firm had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.27 million. MeetMe had a return on equity of 15.75% and a net margin of 56.35%. The business’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. On average, analysts anticipate that MeetMe will post $0.42 EPS for the current year.
In other news, CRO William Alena sold 458,626 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $7.07, for a total transaction of $3,242,485.82. Following the sale, the executive now owns 255,805 shares in the company, valued at $1,808,541.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernesto Cruz sold 137,500 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $4.80, for a total value of $660,000.00. Following the sale, the director now owns 52,367 shares in the company, valued at approximately $251,361.60. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.
Several large investors have recently modified their holdings of MEET. BlackRock Inc. purchased a new stake in MeetMe during the second quarter worth approximately $109,000. Tower Research Capital LLC TRC increased its stake in MeetMe by 125.9% in the second quarter. Tower Research Capital LLC TRC now owns 22,183 shares of the company’s stock worth $118,000 after buying an additional 12,361 shares during the period. State Street Corp purchased a new stake in MeetMe during the first quarter worth approximately $120,000. American International Group Inc. increased its stake in MeetMe by 11,780.5% in the second quarter. American International Group Inc. now owns 23,761 shares of the company’s stock worth $127,000 after buying an additional 23,561 shares during the period. Finally, Alliancebernstein L.P. purchased a new stake in MeetMe during the second quarter worth approximately $139,000. Institutional investors and hedge funds own 46.42% of the company’s stock.
MeetMe, Inc is a social media technology company that owns and operates the MeetMe mobile applications and meetme.com. The Company is a location-based social network for meeting new people both on the Web and on mobile platforms, including on iPhone, Android, iPad and other tablets that facilitate interactions among users.
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