Meet Group Inc (NASDAQ:MEET)‘s stock had its “buy” rating reissued by equities research analysts at Loop Capital in a report released on Wednesday, May 10th. They presently have a $9.00 target price on the information services provider’s stock. Loop Capital’s price target would indicate a potential upside of 93.13% from the stock’s previous close.
MEET has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Meet Group from a “sell” rating to a “buy” rating and set a $5.50 price target on the stock in a research note on Wednesday, January 11th. Roth Capital set a $9.00 price target on shares of Meet Group and gave the company a “buy” rating in a research note on Tuesday, March 21st. JMP Securities restated an “outperform” rating and set a $9.00 price target on shares of Meet Group in a research note on Wednesday, March 8th. Finally, Canaccord Genuity started coverage on shares of Meet Group in a research note on Monday, March 20th. They set a “buy” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $8.70.
Meet Group (NASDAQ:MEET) last announced its quarterly earnings results on Monday, May 8th. The information services provider reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. The company had revenue of $20.10 million for the quarter, compared to analysts’ expectations of $20.05 million. Meet Group had a net margin of 63.55% and a return on equity of 15.13%. Meet Group’s revenue was up 51.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 EPS.
In related news, Director Jason Whitt sold 4,329 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $5.97, for a total transaction of $25,844.13. Following the sale, the director now owns 20,888 shares of the company’s stock, valued at approximately $124,701.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.90% of the company’s stock.
Several institutional investors have recently modified their holdings of MEET. Chicago Equity Partners LLC bought a new position in shares of Meet Group during the third quarter worth approximately $1,925,000. Granite Point Capital Management L.P. bought a new position in shares of Meet Group during the third quarter worth approximately $1,812,000. Princeton Alpha Management LP bought a new position in shares of Meet Group during the third quarter worth approximately $251,000. Zacks Investment Management acquired a new stake in shares of Meet Group during the third quarter worth about $206,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Meet Group during the third quarter worth about $2,784,000. 53.81% of the stock is currently owned by hedge funds and other institutional investors.
About Meet Group
The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.
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