Meet Group (MEET) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Meet Group (NASDAQ:MEET) from a hold rating to a sell rating in a research note issued to investors on Friday.

According to Zacks, “The Meet Group, Inc. is a social media technology company. It offers information sharing, social interaction and mobile application development services. The company’s app consists of currently MeetMe (R), Skout(R), Tagged(R) and Hi5(R). The Meet Group Inc., formerly known as MeetMe Inc., is headquartered in New Hope, Pennsylvania. “

Several other brokerages have also issued reports on MEET. Canaccord Genuity lowered shares of Meet Group from a buy rating to a hold rating and set a $10.00 price target on the stock. in a report on Thursday, November 9th. JMP Securities lowered shares of Meet Group from an outperform rating to a market perform rating and set a $6.00 price target on the stock. in a report on Thursday, November 9th. Finally, Roth Capital reissued a buy rating and set a $7.25 target price on shares of Meet Group in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $8.06.

Meet Group (NASDAQ MEET) traded up $0.07 during trading on Friday, reaching $2.30. 1,447,791 shares of the company were exchanged, compared to its average volume of 981,920. Meet Group has a 1-year low of $2.19 and a 1-year high of $6.45. The company has a market capitalization of $160.13, a P/E ratio of 6.19, a P/E/G ratio of 0.46 and a beta of 0.91.

Meet Group (NASDAQ:MEET) last issued its quarterly earnings data on Wednesday, November 8th. The information services provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Meet Group had a net margin of 11.90% and a return on equity of 10.85%. The business had revenue of $32.25 million during the quarter, compared to analysts’ expectations of $32.33 million. During the same quarter in the previous year, the company earned $0.10 EPS. The business’s revenue was up 87.6% on a year-over-year basis. equities research analysts predict that Meet Group will post 0.25 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Highbridge Capital Management LLC grew its position in Meet Group by 75.7% during the third quarter. Highbridge Capital Management LLC now owns 225,956 shares of the information services provider’s stock valued at $823,000 after buying an additional 97,340 shares during the period. Russell Investments Group Ltd. boosted its holdings in Meet Group by 109.1% in the third quarter. Russell Investments Group Ltd. now owns 142,402 shares of the information services provider’s stock valued at $518,000 after acquiring an additional 74,313 shares in the last quarter. Symons Capital Management Inc. bought a new stake in Meet Group in the third quarter valued at $428,000. Alps Advisors Inc. lifted its position in Meet Group by 22.8% during the third quarter. Alps Advisors Inc. now owns 117,331 shares of the information services provider’s stock valued at $427,000 after buying an additional 21,752 shares during the period. Finally, American Century Companies Inc. lifted its position in Meet Group by 5.2% during the third quarter. American Century Companies Inc. now owns 588,729 shares of the information services provider’s stock valued at $2,143,000 after buying an additional 29,245 shares during the period. Institutional investors own 50.87% of the company’s stock.

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About Meet Group

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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