Shares of Meet Group Inc (NASDAQ:MEET) fell 8.2% during mid-day trading on Monday . The stock traded as low as $5.13 and last traded at $5.39. 2,351,054 shares changed hands during mid-day trading, an increase of 68% from the average session volume of 1,397,116 shares. The stock had previously closed at $5.87.
Several research firms have recently issued reports on MEET. Roth Capital upped their target price on shares of Meet Group from $6.75 to $8.00 in a research note on Wednesday, January 9th. BidaskClub upgraded shares of Meet Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, ValuEngine lowered shares of Meet Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 10th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $5.75.
The stock has a market cap of $434.03 million, a price-to-earnings ratio of 17.39, a PEG ratio of 1.07 and a beta of 1.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. bought a new position in Meet Group during the fourth quarter valued at about $50,000. FNY Investment Advisers LLC bought a new position in Meet Group during the third quarter valued at about $108,000. Virtu Financial LLC bought a new position in Meet Group during the third quarter valued at about $110,000. CAPROCK Group Inc. bought a new position in Meet Group during the fourth quarter valued at about $118,000. Finally, Bank of Montreal Can grew its position in Meet Group by 316.6% during the third quarter. Bank of Montreal Can now owns 27,547 shares of the information services provider’s stock valued at $135,000 after buying an additional 20,935 shares during the period. Institutional investors own 56.52% of the company’s stock.
Meet Group Company Profile (NASDAQ:MEET)
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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