Meet Group Inc (MEET) Major Shareholder Luxor Capital Group, Lp Buys 155,229 Shares

Meet Group Inc (NASDAQ:MEET) major shareholder Luxor Capital Group, Lp acquired 155,229 shares of Meet Group stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average price of $4.40 per share, for a total transaction of $683,007.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% 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 Tuesday, October 23rd, Luxor Capital Group, Lp acquired 171,529 shares of Meet Group stock. The shares were bought at an average price of $4.38 per share, for a total transaction of $751,297.02.
  • On Friday, October 12th, Luxor Capital Group, Lp acquired 87,415 shares of Meet Group stock. The shares were bought at an average price of $4.72 per share, for a total transaction of $412,598.80.
  • On Friday, October 5th, Luxor Capital Group, Lp acquired 247,567 shares of Meet Group stock. The shares were bought at an average price of $5.27 per share, for a total transaction of $1,304,678.09.

Meet Group stock traded down $0.04 during trading on Tuesday, reaching $4.40. 960,210 shares of the company were exchanged, compared to its average volume of 1,061,813. Meet Group Inc has a 52-week low of $1.84 and a 52-week high of $5.63. The company has a market cap of $318.18 million, a price-to-earnings ratio of 14.19, a PEG ratio of 1.09 and a beta of 1.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15.

Meet Group (NASDAQ:MEET) last announced its quarterly earnings data on Wednesday, August 1st. The information services provider reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. Meet Group had a positive return on equity of 10.24% and a negative net margin of 45.79%. The firm had revenue of $42.80 million for the quarter, compared to the consensus estimate of $38.25 million. On average, analysts predict that Meet Group Inc will post 0.2 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of MEET. Wells Fargo & Company MN raised its position in Meet Group by 40.2% in the first quarter. Wells Fargo & Company MN now owns 155,670 shares of the information services provider’s stock valued at $325,000 after purchasing an additional 44,624 shares during the period. Northern Trust Corp raised its position in Meet Group by 3.6% in the first quarter. Northern Trust Corp now owns 742,190 shares of the information services provider’s stock valued at $1,552,000 after purchasing an additional 26,067 shares during the period. JPMorgan Chase & Co. raised its position in Meet Group by 167.5% in the first quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock valued at $126,000 after purchasing an additional 37,677 shares during the period. Dimensional Fund Advisors LP raised its position in Meet Group by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,998,792 shares of the information services provider’s stock valued at $12,537,000 after purchasing an additional 328,995 shares during the period. Finally, Hartford Investment Management Co. purchased a new stake in Meet Group in the second quarter valued at $428,000. Institutional investors own 51.76% of the company’s stock.

MEET has been the topic of a number of analyst reports. Canaccord Genuity set a $6.00 price objective on Meet Group and gave the stock a “buy” rating in a research report on Tuesday, August 21st. BidaskClub downgraded Meet Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 10th. ValuEngine upgraded Meet Group from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. TheStreet upgraded Meet Group from a “d+” rating to a “c-” rating in a research report on Monday, August 27th. Finally, Zacks Investment Research downgraded Meet Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.63.

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.

See Also: Price to Earnings Ratio (PE)

Insider Buying and Selling by Quarter for Meet Group (NASDAQ:MEET)

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