Meet Group (MEET) Trading Up 22.4%

Meet Group Inc (NASDAQ:MEET)’s share price was up 22.4% on Wednesday . The stock traded as high as $3.15 and last traded at $2.84. Approximately 8,644,300 shares traded hands during trading, an increase of 464% from the average daily volume of 1,533,054 shares. The stock had previously closed at $2.32.

Several equities analysts have recently weighed in on MEET shares. Zacks Investment Research cut Meet Group from a “hold” rating to a “sell” rating in a report on Friday, November 24th. Canaccord Genuity cut 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. Roth Capital reissued a “buy” rating and set a $7.25 price target on shares of Meet Group in a report on Wednesday, October 25th. Finally, JMP Securities cut 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.56.

The stock has a market cap of $203.93, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 0.58 and a beta of 0.91.

Meet Group (NASDAQ:MEET) last released its quarterly earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $32.25 million for the quarter, compared to analysts’ expectations of $32.33 million. Meet Group had a return on equity of 10.85% and a net margin of 11.90%. The company’s revenue was up 87.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. analysts forecast that Meet Group Inc will post 0.25 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of MEET. Sterling Investment Advisors Ltd. increased its stake in shares of Meet Group by 33.3% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock worth $101,000 after purchasing an additional 5,000 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Meet Group by 31.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,022 shares of the information services provider’s stock worth $101,000 after purchasing an additional 4,827 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Meet Group by 56.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 26,011 shares of the information services provider’s stock worth $131,000 after purchasing an additional 9,383 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Meet Group by 50.0% in the 2nd quarter. Voya Investment Management LLC now owns 28,570 shares of the information services provider’s stock worth $144,000 after purchasing an additional 9,528 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Meet Group in the 2nd quarter worth $203,000. Hedge funds and other institutional investors own 50.85% 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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