Meet Group (MEET) Raised to Hold at BidaskClub

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BidaskClub upgraded shares of Meet Group (NASDAQ:MEET) from a sell rating to a hold rating in a research report released on Thursday morning.

Several other equities analysts have also weighed in on MEET. ValuEngine lowered shares of Meet Group from a buy rating to a hold rating in a report on Wednesday, May 2nd. Canaccord Genuity restated a hold rating and set a $3.00 target price on shares of Meet Group in a report on Thursday, May 3rd. Finally, Zacks Investment Research upgraded shares of Meet Group from a sell rating to a hold rating and set a $3.25 target price on the stock in a report on Wednesday, May 9th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $4.63.

Meet Group opened at $4.16 on Thursday, Marketbeat.com reports. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. The firm has a market cap of $311.59 million, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 1.12 and a beta of 1.48. Meet Group has a twelve month low of $1.84 and a twelve month high of $4.89.

Meet Group (NASDAQ:MEET) last posted its earnings results on Wednesday, August 1st. The information services provider reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The business had revenue of $42.80 million for the quarter, compared to analyst estimates of $38.25 million. Meet Group had a negative net margin of 45.79% and a positive return on equity of 10.24%. sell-side analysts forecast that Meet Group will post 0.19 EPS for the current year.

In related news, Director Jason Whitt sold 18,500 shares of Meet Group stock in a transaction on Friday, July 13th. The shares were sold at an average price of $4.02, for a total transaction of $74,370.00. Following the transaction, the director now owns 62,382 shares in the company, valued at approximately $250,775.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Geoffrey Cook sold 250,000 shares of Meet Group stock in a transaction on Friday, June 15th. The shares were sold at an average price of $4.17, for a total transaction of $1,042,500.00. Following the transaction, the chief executive officer now owns 1,306,562 shares in the company, valued at approximately $5,448,363.54. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Meet Group by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,018,805 shares of the information services provider’s stock worth $26,964,000 after buying an additional 20,013 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Meet Group by 17.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 142,044 shares of the information services provider’s stock worth $637,000 after buying an additional 20,844 shares in the last quarter. Northern Trust Corp lifted its holdings in Meet Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 742,190 shares of the information services provider’s stock worth $1,552,000 after buying an additional 26,067 shares in the last quarter. BlackRock Inc. lifted its holdings in Meet Group by 0.7% in the 4th quarter. BlackRock Inc. now owns 4,092,641 shares of the information services provider’s stock worth $11,542,000 after buying an additional 27,956 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Meet Group by 167.5% in the 1st quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock worth $126,000 after buying an additional 37,677 shares in the last quarter. Hedge funds and other institutional investors own 43.43% of the company’s stock.

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's applications include MeetMe, LOVOO, Skout, and Tagged that keep mobile daily active users entertained and engaged, and originate untold numbers of casual chats, friendships, dates, and marriages.

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