Meet Group Inc (MEET) Major Shareholder Buys $1,213,850.00 in Stock

Meet Group Inc (NASDAQ:MEET) major shareholder Luxor Capital Group, Lp purchased 220,700 shares of the company’s stock in a transaction dated Friday, January 11th. The stock was bought at an average cost of $5.50 per share, for a total transaction of $1,213,850.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Luxor Capital Group, Lp also recently made the following trade(s):

  • On Friday, January 4th, Luxor Capital Group, Lp purchased 58,898 shares of Meet Group stock. The stock was bought at an average cost of $4.83 per share, for a total transaction of $284,477.34.
  • On Tuesday, January 8th, Luxor Capital Group, Lp purchased 475,112 shares of Meet Group stock. The stock was bought at an average cost of $5.11 per share, for a total transaction of $2,427,822.32.
  • On Wednesday, January 2nd, Luxor Capital Group, Lp purchased 109,300 shares of Meet Group stock. The stock was bought at an average cost of $4.63 per share, for a total transaction of $506,059.00.
  • On Tuesday, December 31st, Luxor Capital Group, Lp purchased 151,716 shares of Meet Group stock. The stock was bought at an average cost of $4.60 per share, for a total transaction of $697,893.60.
  • On Friday, December 27th, Luxor Capital Group, Lp acquired 104,504 shares of Meet Group stock. The stock was acquired at an average price of $4.22 per share, with a total value of $441,006.88.
  • On Friday, December 28th, Luxor Capital Group, Lp acquired 263,852 shares of Meet Group stock. The stock was acquired at an average price of $4.39 per share, with a total value of $1,158,310.28.
  • On Monday, December 24th, Luxor Capital Group, Lp acquired 51,405 shares of Meet Group stock. The stock was acquired at an average price of $3.77 per share, with a total value of $193,796.85.
  • On Wednesday, December 26th, Luxor Capital Group, Lp acquired 203,794 shares of Meet Group stock. The stock was acquired at an average price of $3.95 per share, with a total value of $804,986.30.
  • On Thursday, December 20th, Luxor Capital Group, Lp acquired 170,727 shares of Meet Group stock. The stock was acquired at an average price of $3.97 per share, with a total value of $677,786.19.
  • On Tuesday, December 18th, Luxor Capital Group, Lp acquired 130,802 shares of Meet Group stock. The stock was acquired at an average price of $3.81 per share, with a total value of $498,355.62.

MEET stock opened at $5.35 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 1.14. Meet Group Inc has a 52-week low of $1.84 and a 52-week high of $6.00. The stock has a market cap of $415.55 million, a price-to-earnings ratio of 17.26, a PEG ratio of 1.02 and a beta of 1.15.

Meet Group (NASDAQ:MEET) last released its quarterly earnings results on Wednesday, November 7th. The information services provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Meet Group had a negative net margin of 42.63% and a positive return on equity of 10.15%. The company had revenue of $45.72 million during the quarter, compared to analysts’ expectations of $43.85 million. As a group, equities analysts anticipate that Meet Group Inc will post 0.22 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in MEET. BlackRock Inc. boosted its holdings in Meet Group by 17.6% during the second quarter. BlackRock Inc. now owns 4,823,976 shares of the information services provider’s stock valued at $21,611,000 after acquiring an additional 721,187 shares during the period. Millennium Management LLC boosted its holdings in Meet Group by 74.2% during the second quarter. Millennium Management LLC now owns 1,332,693 shares of the information services provider’s stock valued at $5,970,000 after acquiring an additional 567,518 shares during the period. JPMorgan Chase & Co. boosted its holdings in Meet Group by 1,767.8% during the third quarter. JPMorgan Chase & Co. now owns 487,855 shares of the information services provider’s stock valued at $2,415,000 after acquiring an additional 461,736 shares during the period. Acadian Asset Management LLC boosted its holdings in Meet Group by 234.6% during the third quarter. Acadian Asset Management LLC now owns 309,530 shares of the information services provider’s stock valued at $1,533,000 after acquiring an additional 217,019 shares during the period. Finally, Zacks Investment Management bought a new stake in Meet Group during the second quarter valued at about $903,000. Institutional investors own 56.08% of the company’s stock.

A number of brokerages recently issued reports on MEET. BidaskClub upgraded shares of Meet Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. ValuEngine cut shares of Meet Group from a “buy” rating to a “hold” rating in a report on Saturday, November 10th. Finally, Roth Capital upped their price objective on shares of Meet Group from $6.75 to $8.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.75.

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Meet Group Company Profile

The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company leverages a powerful live-streaming video platform, empowering global community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, and Tagged, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

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