Meet Group Inc (MEET) Receives Consensus Rating of “Hold” from Brokerages

Meet Group Inc (NASDAQ:MEET) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $7.00.

A number of equities analysts have issued reports on MEET shares. BidaskClub downgraded Meet Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. Roth Capital lifted their price target on Meet Group from $6.75 to $8.00 in a research note on Wednesday. Finally, ValuEngine downgraded Meet Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 10th.

In other news, major shareholder Luxor Capital Group, Lp acquired 757,808 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average price of $4.28 per share, for a total transaction of $3,243,418.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Spencer Garrett Rhodes acquired 11,985 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was purchased at an average price of $3.77 per share, for a total transaction of $45,183.45. Following the purchase, the director now owns 80,466 shares of the company’s stock, valued at approximately $303,356.82. The disclosure for this purchase can be found here. Insiders bought a total of 3,037,361 shares of company stock worth $13,627,251 in the last 90 days. Company insiders own 6.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of MEET. Vanguard Group Inc increased its stake in shares of Meet Group by 1.0% during the third quarter. Vanguard Group Inc now owns 3,493,459 shares of the information services provider’s stock valued at $17,293,000 after purchasing an additional 34,128 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Meet Group by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,493,459 shares of the information services provider’s stock valued at $17,293,000 after purchasing an additional 34,128 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Meet Group by 25.5% during the third quarter. TIAA CREF Investment Management LLC now owns 390,924 shares of the information services provider’s stock valued at $1,935,000 after purchasing an additional 79,502 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Meet Group by 14.5% during the third quarter. Teachers Advisors LLC now owns 156,873 shares of the information services provider’s stock valued at $777,000 after purchasing an additional 19,819 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its stake in shares of Meet Group by 50.6% during the third quarter. MetLife Investment Advisors LLC now owns 52,089 shares of the information services provider’s stock valued at $258,000 after purchasing an additional 17,494 shares in the last quarter. 56.08% of the stock is currently owned by institutional investors and hedge funds.

MEET stock opened at $5.35 on Friday. The stock has a market cap of $415.55 million, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.02 and a beta of 1.15. 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 has a 52-week low of $1.84 and a 52-week high of $6.00.

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 analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $45.72 million during the quarter, compared to the consensus estimate of $43.85 million. Meet Group had a positive return on equity of 10.15% and a negative net margin of 42.63%. On average, analysts forecast that Meet Group will post 0.22 EPS for the current year.

About Meet Group

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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