Meet Group (MEET) Trading Down 7.9%

Meet Group Inc (NASDAQ:MEET) traded down 7.9% during trading on Friday . The company traded as low as $5.23 and last traded at $5.35. 2,504,524 shares were traded during trading, an increase of 26% from the average session volume of 1,986,053 shares. The stock had previously closed at $5.81.

A number of equities research analysts recently commented on the stock. BidaskClub cut shares of Meet Group from a “hold” rating to a “sell” rating in a research report on Saturday, December 15th. ValuEngine cut shares of Meet Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 10th. Finally, Roth Capital increased their target price on shares of Meet Group from $6.75 to $8.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $5.75.

The firm has a market capitalization of $415.55 million, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.02 and a beta of 1.15. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13.

Meet Group (NASDAQ:MEET) last posted its quarterly earnings results on Wednesday, November 7th. The information services provider reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The business had revenue of $45.72 million during the quarter, compared to analysts’ expectations of $43.85 million. Meet Group had a negative net margin of 42.63% and a positive return on equity of 10.15%. Analysts predict that Meet Group Inc will post 0.22 earnings per share for the current fiscal year.

In other Meet Group news, Director Spencer Garrett Rhodes acquired 11,985 shares of the business’s stock in a transaction dated Monday, November 12th. The shares were purchased at an average price of $3.77 per share, for a total transaction of $45,183.45. Following the completion of the purchase, the director now directly owns 80,466 shares of the company’s stock, valued at $303,356.82. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Luxor Capital Group, Lp acquired 151,716 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average price of $4.60 per share, for a total transaction of $697,893.60. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 3,037,361 shares of company stock valued at $13,627,251. Corporate insiders own 6.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in shares of Meet Group in the third quarter worth $108,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Meet Group in the second quarter worth $109,000. Virtu Financial LLC acquired a new stake in shares of Meet Group in the third quarter worth $110,000. Bank of Montreal Can increased its stake in shares of Meet Group by 316.6% in the third quarter. Bank of Montreal Can now owns 27,547 shares of the information services provider’s stock worth $135,000 after acquiring an additional 20,935 shares during the period. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Meet Group in the second quarter worth $155,000. Hedge funds and other institutional investors own 56.08% of the company’s stock.

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Meet Group Company Profile (NASDAQ:MEET)

The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company leverages a powerful live-streaming video platform, empowering global community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, and Tagged, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

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