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 analysts have also recently commented on the company. Loop Capital reissued a buy rating and issued a $9.00 price target on shares of MeetMe in a report on Wednesday, October 5th. Roth Capital reissued a buy rating on shares of MeetMe in a report on Saturday, October 1st. Finally, JMP Securities reissued a buy rating on shares of MeetMe in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $6.50.
Shares of MeetMe (NASDAQ:MEET) opened at 5.47 on Tuesday. MeetMe has a one year low of $2.20 and a one year high of $8.11. The firm has a 50-day moving average price of $5.79 and a 200 day moving average price of $5.00. The stock has a market capitalization of $287.08 million, a PE ratio of 7.97 and a beta of 1.62.
MeetMe (NASDAQ:MEET) last posted 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 business earned $16.40 million during the quarter, compared to analysts’ expectations of $15.27 million. MeetMe had a return on equity of 15.75% and a net margin of 56.35%. The company’s quarterly revenue was up 47.8% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. On average, equities analysts expect that MeetMe will post $0.43 EPS for the current fiscal year.
In related news, Director Spencer Garrett Rhodes sold 70,182 shares of MeetMe stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $7.35, for a total transaction of $515,837.70. Following the completion of the transaction, the director now directly owns 37,145 shares of the company’s stock, valued at $273,015.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO William Alena sold 458,626 shares of MeetMe stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $7.07, for a total value of $3,242,485.82. Following the transaction, the executive now directly owns 255,805 shares of the company’s stock, valued at $1,808,541.35. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of MEET. Creative Planning boosted its position in shares of MeetMe by 140.0% in the third quarter. Creative Planning now owns 17,999 shares of the company’s stock valued at $112,000 after buying an additional 10,499 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in MeetMe during the second quarter valued at $1,260,000. Schwab Charles Investment Management Inc. bought a new position in MeetMe during the second quarter valued at $344,000. Metropolitan Life Insurance Co. NY bought a new position in MeetMe during the second quarter valued at $171,000. Finally, Numeric Investors LLC increased its position in MeetMe by 360.1% in the second quarter. Numeric Investors LLC now owns 790,925 shares of the company’s stock valued at $4,216,000 after buying an additional 619,025 shares during the last quarter. 46.40% of the stock is owned by hedge funds and other institutional investors.
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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