MeetMe, Inc. (MEET) Reaches New 12-Month Low on Analyst Downgrade

Shares of MeetMe, Inc. (NASDAQ:MEET) reached a new 52-week low during mid-day trading on Tuesday after BidaskClub downgraded the stock from a sell rating to a strong sell rating. The stock traded as low as $3.96 and last traded at $3.97, with a volume of 2,425,198 shares traded. The stock had previously closed at $4.16.

Other analysts have also issued reports about the company. Roth Capital set a $8.00 target price on MeetMe and gave the stock a “buy” rating in a report on Wednesday, August 9th. Loop Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of MeetMe in a research note on Wednesday, May 10th. ValuEngine lowered MeetMe from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research raised MeetMe from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, JMP Securities reduced their price objective on MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating on the stock in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $7.90.

Institutional investors have recently modified their holdings of the company. Sterling Investment Advisors Ltd. increased its stake in shares of MeetMe by 33.3% in the second quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock worth $101,000 after buying an additional 5,000 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of MeetMe by 31.8% in the second quarter. Cubist Systematic Strategies LLC now owns 20,022 shares of the information services provider’s stock worth $101,000 after buying an additional 4,827 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of MeetMe by 56.4% in the second quarter. Parametric Portfolio Associates LLC now owns 26,011 shares of the information services provider’s stock worth $131,000 after buying an additional 9,383 shares during the last quarter. Algert Global LLC acquired a new stake in shares of MeetMe during the first quarter worth $134,000. Finally, Voya Investment Management LLC increased its stake in shares of MeetMe by 50.0% in the second quarter. Voya Investment Management LLC now owns 28,570 shares of the information services provider’s stock worth $144,000 after buying an additional 9,528 shares during the last quarter. Institutional investors own 50.15% of the company’s stock.

The firm has a market capitalization of $258.47 million, a price-to-earnings ratio of 15.06 and a beta of 0.86. The firm has a 50 day moving average price of $4.72 and a 200 day moving average price of $5.04.

MeetMe (NASDAQ:MEET) last posted its quarterly earnings results on Thursday, August 3rd. The information services provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. MeetMe had a net margin of 15.95% and a return on equity of 11.47%. The company had revenue of $31.33 million for the quarter, compared to analyst estimates of $30.70 million. During the same period in the prior year, the company earned $0.09 earnings per share. The firm’s revenue was up 91.2% on a year-over-year basis. Analysts anticipate that MeetMe, Inc. will post $0.43 EPS for the current year.

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About MeetMe

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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