Nationwide Fund Advisors grew its position in MeetMe, Inc. (NASDAQ:MEET) by 28.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,568 shares of the information services provider’s stock after acquiring an additional 11,333 shares during the quarter. Nationwide Fund Advisors owned 0.07% of MeetMe worth $260,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Sterling Investment Advisors Ltd. lifted its position in shares of MeetMe by 33.3% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock worth $101,000 after acquiring an additional 5,000 shares during the period. American International Group Inc. lifted its position in shares of MeetMe by 7.1% in the 1st quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock worth $150,000 after acquiring an additional 1,683 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of MeetMe in the 1st quarter worth approximately $177,000. SG Americas Securities LLC bought a new stake in shares of MeetMe in the 2nd quarter worth approximately $203,000. Finally, Rice Hall James & Associates LLC lifted its position in shares of MeetMe by 1.0% in the 2nd quarter. Rice Hall James & Associates LLC now owns 52,360 shares of the information services provider’s stock worth $264,000 after acquiring an additional 539 shares during the period. Institutional investors own 56.93% of the company’s stock.
A number of analysts have commented on the company. Canaccord Genuity downgraded MeetMe from a “buy” rating to a “hold” rating and set a $10.00 price objective for the company. in a research report on Thursday. JMP Securities reduced their price objective on MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating for the company in a research report on Monday, August 7th. Zacks Investment Research downgraded MeetMe from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. BidaskClub downgraded MeetMe from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 15th. Finally, Roth Capital set a $8.00 target price on MeetMe and gave the stock a “buy” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $8.06.
MeetMe, Inc. (NASDAQ MEET) opened at $2.29 on Monday. The company has a market capitalization of $164.44, a P/E ratio of 6.36, a P/E/G ratio of 0.47 and a beta of 1.05. MeetMe, Inc. has a 52-week low of $2.26 and a 52-week high of $6.45.
MeetMe (NASDAQ:MEET) last posted its earnings results on Wednesday, November 8th. The information services provider reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The business had revenue of $32.25 million during the quarter, compared to the consensus estimate of $32.33 million. MeetMe had a return on equity of 10.85% and a net margin of 11.90%. MeetMe’s revenue was up 87.6% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. equities analysts forecast that MeetMe, Inc. will post 0.25 earnings per share for the current year.
MeetMe Company Profile
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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