Meet Group (MEET) Stock Price Down 6%

Meet Group Inc (NASDAQ:MEET) shares fell 6% on Tuesday . The stock traded as low as $2.95 and last traded at $2.96. 1,710,618 shares changed hands during trading, an increase of 11% from the average session volume of 1,542,731 shares. The stock had previously closed at $3.15.

Several research firms have recently weighed in on MEET. Canaccord Genuity reaffirmed a “hold” rating and set a $4.00 price objective on shares of Meet Group in a research report on Tuesday, December 19th. Roth Capital reaffirmed a “buy” rating and set a $7.25 price objective on shares of Meet Group in a research report on Wednesday, October 25th. JMP Securities cut Meet Group from an “outperform” rating to a “market perform” rating and set a $6.00 price objective for the company. in a research report on Thursday, November 9th. Finally, Zacks Investment Research cut Meet Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Meet Group currently has a consensus rating of “Hold” and an average price target of $6.56.

The stock has a market cap of $226.19, a PE ratio of 14.85, a P/E/G ratio of 0.62 and a beta of 0.91.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Investment Advisors Ltd. boosted its position in Meet Group by 33.3% during the second quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock valued at $101,000 after purchasing an additional 5,000 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Meet Group by 31.8% during the second quarter. Cubist Systematic Strategies LLC now owns 20,022 shares of the information services provider’s stock valued at $101,000 after purchasing an additional 4,827 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Meet Group by 56.4% during the second quarter. Parametric Portfolio Associates LLC now owns 26,011 shares of the information services provider’s stock valued at $131,000 after purchasing an additional 9,383 shares during the last quarter. Voya Investment Management LLC boosted its position in Meet Group by 50.0% during the second quarter. Voya Investment Management LLC now owns 28,570 shares of the information services provider’s stock valued at $144,000 after purchasing an additional 9,528 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Meet Group in the second quarter valued at approximately $203,000. 50.85% of the stock is owned by hedge funds and other institutional investors.

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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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