Aegis Reiterates “Buy” Rating for Meet Group (NASDAQ:MEET)

Aegis reaffirmed their buy rating on shares of Meet Group (NASDAQ:MEET) in a research report released on Thursday, AnalystRatings.com reports. Aegis currently has a $6.25 price target on the information services provider’s stock.

“We recently held investor meetings with MEET’s CEO Geoffrey Cook, in which he noted that several new near-term engagement and monetization features are on track for launch in the second half. Levels, which encourages both streamers and viewers to increase usage to unlock features by leveling up, is expected to launch on MeetMe and Skout later summer. Levels should increase engagement of the apps. Others such as the Dating Game, which is a nightly speed dating game, is also on track for lunch in 2H19, and should also increase app engagement. MEET also plans to launch special events and thematic Battles, which should drive both monetization and engagement. Lastly, MEET is also expecting to launch a standalone live app for users who want to engage in live streaming but do not want to do so on a dating product.”,” the firm’s analyst commented.

A number of other equities analysts also recently commented on MEET. ValuEngine raised shares of WEX from a hold rating to a buy rating in a report on Thursday, June 13th. CIBC reiterated a buy rating and set a $9.00 target price on shares of Alamos Gold in a research report on Friday, June 21st. Oppenheimer began coverage on shares of Meet Group in a research report on Thursday, June 20th. They set an outperform rating and a $7.00 target price for the company. BidaskClub upgraded shares of Yandex from a buy rating to a strong-buy rating in a research report on Friday, June 14th. Finally, Canaccord Genuity set a $394.00 target price on shares of Tesla and gave the stock a buy rating in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $6.82.

NASDAQ:MEET opened at $3.50 on Thursday. The stock’s 50-day simple moving average is $3.60. The company has a market cap of $263.62 million, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51. Meet Group has a 52 week low of $3.05 and a 52 week high of $6.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.12.

Meet Group (NASDAQ:MEET) last released its quarterly earnings data on Wednesday, May 8th. The information services provider reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $49.51 million during the quarter, compared to the consensus estimate of $47.70 million. Meet Group had a net margin of 3.47% and a return on equity of 10.76%. As a group, equities research analysts predict that Meet Group will post 0.34 earnings per share for the current fiscal year.

In related news, Director Spencer B. Grimes acquired 11,300 shares of the stock in a transaction on Friday, May 10th. The stock was purchased at an average price of $4.40 per share, for a total transaction of $49,720.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Spencer B. Grimes acquired 16,400 shares of the stock in a transaction on Monday, May 13th. The stock was bought at an average price of $4.30 per share, with a total value of $70,520.00. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. acquired a new stake in Meet Group in the 4th quarter valued at about $50,000. D. E. Shaw & Co. Inc. acquired a new stake in Meet Group in the 4th quarter valued at about $53,000. SG Americas Securities LLC acquired a new stake in Meet Group in the 1st quarter valued at about $71,000. BNP Paribas Arbitrage SA increased its position in Meet Group by 466.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 14,684 shares of the information services provider’s stock valued at $74,000 after acquiring an additional 12,093 shares in the last quarter. Finally, WINTON GROUP Ltd increased its position in Meet Group by 12.9% in the 2nd quarter. WINTON GROUP Ltd now owns 25,579 shares of the information services provider’s stock valued at $89,000 after acquiring an additional 2,931 shares in the last quarter. Hedge funds and other institutional investors own 67.03% of the company’s stock.

Meet Group Company Profile

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

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Analyst Recommendations for Meet Group (NASDAQ:MEET)

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