Meet Group Inc (NASDAQ:MEET) Short Interest Update

Meet Group Inc (NASDAQ:MEET) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 13,078,300 shares, an increase of 10.9% from the May 30th total of 11,796,600 shares. Approximately 19.3% of the company’s stock are sold short. Based on an average trading volume of 1,560,000 shares, the days-to-cover ratio is currently 8.4 days.

Several research firms have recently commented on MEET. Zacks Investment Research raised National Energy Services Reunited from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Tuesday. ValuEngine raised WEX from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. Oppenheimer began coverage on Meet Group in a report on Thursday, June 20th. They issued an “outperform” rating and a $7.00 price objective for the company. Northland Securities reissued a “buy” rating and issued a $55.00 price objective on shares of Heron Therapeutics in a report on Thursday, May 9th. Finally, Aegis reissued a “buy” rating and issued a $6.25 price objective on shares of Meet Group in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $6.75.

NASDAQ MEET opened at $3.48 on Tuesday. The firm has a market cap of $263.62 million, a P/E ratio of 14.50, a PEG ratio of 0.51 and a beta of 1.51. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.12. Meet Group has a 12 month low of $3.05 and a 12 month high of $6.27. The firm has a 50 day moving average of $3.57.

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, beating the consensus estimate of $0.05 by $0.01. Meet Group had a return on equity of 10.76% and a net margin of 3.47%. The company had revenue of $49.51 million during the quarter, compared to the consensus estimate of $47.70 million. As a group, equities analysts predict that Meet Group will post 0.34 EPS for the current fiscal year.

In other news, Director Spencer B. Grimes purchased 16,400 shares of Meet Group stock in a transaction on Monday, May 13th. The stock was purchased at an average price of $4.30 per share, with a total value of $70,520.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Spencer B. Grimes purchased 11,300 shares of Meet Group stock in a transaction on Friday, May 10th. The shares were purchased at an average cost of $4.40 per share, with a total value of $49,720.00. The disclosure for this purchase can be found here. Corporate insiders own 6.10% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd raised its stake 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 during the period. Northern Trust Corp raised its stake in Meet Group by 0.4% in the 4th quarter. Northern Trust Corp now owns 792,944 shares of the information services provider’s stock valued at $3,672,000 after acquiring an additional 3,307 shares during the period. Rhumbline Advisers raised its stake in Meet Group by 6.9% in the 1st quarter. Rhumbline Advisers now owns 104,966 shares of the information services provider’s stock valued at $528,000 after acquiring an additional 6,800 shares during the period. Supplemental Annuity Collective Trust of NJ raised its stake in Meet Group by 10.0% in the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 110,000 shares of the information services provider’s stock valued at $383,000 after acquiring an additional 10,000 shares during the period. Finally, New Jersey Better Educational Savings Trust raised its stake in Meet Group by 16.7% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 70,000 shares of the information services provider’s stock valued at $244,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds own 67.06% 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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