American Century Companies Inc. grew its holdings in MeetMe, Inc. (NASDAQ:MEET) by 45.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 559,484 shares of the information services provider’s stock after purchasing an additional 173,902 shares during the period. American Century Companies Inc. owned about 0.80% of MeetMe worth $2,825,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MEET. Dimensional Fund Advisors LP increased its holdings in MeetMe by 18.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,815,168 shares of the information services provider’s stock worth $28,361,000 after buying an additional 749,823 shares during the last quarter. Vanguard Group Inc. increased its holdings in MeetMe by 24.3% in the first quarter. Vanguard Group Inc. now owns 2,517,889 shares of the information services provider’s stock worth $14,831,000 after buying an additional 493,038 shares during the last quarter. Geode Capital Management LLC increased its holdings in MeetMe by 60.8% in the first quarter. Geode Capital Management LLC now owns 1,088,207 shares of the information services provider’s stock worth $6,408,000 after buying an additional 411,375 shares during the last quarter. Pacific Ridge Capital Partners LLC acquired a new position in MeetMe in the first quarter worth approximately $6,019,000. Finally, Lyon Street Capital LLC increased its holdings in MeetMe by 24.8% in the first quarter. Lyon Street Capital LLC now owns 974,670 shares of the information services provider’s stock worth $5,741,000 after buying an additional 193,908 shares during the last quarter. Institutional investors own 56.31% of the company’s stock.
A number of equities analysts recently commented on MEET shares. Zacks Investment Research upgraded MeetMe from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub downgraded MeetMe from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 15th. Roth Capital set a $9.00 price objective on MeetMe and gave the stock a “buy” rating in a report on Wednesday, July 19th. JMP Securities dropped their price objective on MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating on the stock in a report on Monday, August 7th. Finally, ValuEngine downgraded MeetMe from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. MeetMe has a consensus rating of “Hold” and a consensus price target of $7.90.
Shares of MeetMe, Inc. (NASDAQ MEET) opened at 4.01 on Wednesday. MeetMe, Inc. has a 12 month low of $3.41 and a 12 month high of $6.45. The company has a market cap of $287.91 million, a PE ratio of 16.78 and a beta of 0.80. The firm’s 50-day moving average price is $4.07 and its 200-day moving average price is $4.92.
MeetMe (NASDAQ:MEET) last posted its quarterly earnings results on Thursday, August 3rd. The information services provider reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The firm had revenue of $31.33 million for the quarter, compared to analyst estimates of $30.70 million. MeetMe had a return on equity of 11.47% and a net margin of 15.95%. The business’s quarterly revenue was up 91.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS. Equities analysts predict that MeetMe, Inc. will post $0.43 EPS for the current fiscal year.
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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