Meet Group (MEET) Lifted to Sell at BidaskClub

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

A number of other research analysts also recently commented on the company. ValuEngine upgraded Meet Group from a hold rating to a buy rating in a research note on Tuesday, August 28th. Canaccord Genuity set a $6.00 target price on Meet Group and gave the company a buy rating in a research note on Tuesday, August 21st. Finally, TheStreet upgraded Meet Group from a d+ rating to a c- rating in a research note on Monday, August 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $4.17.

Shares of NASDAQ MEET opened at $3.96 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. Meet Group has a one year low of $1.84 and a one year high of $5.63. The stock has a market capitalization of $292.81 million, a price-to-earnings ratio of 12.77, a PEG ratio of 0.94 and a beta of 1.53.

Meet Group (NASDAQ:MEET) last issued its earnings results on Wednesday, November 7th. The information services provider reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Meet Group had a positive return on equity of 10.15% and a negative net margin of 42.63%. The firm had revenue of $45.72 million for the quarter, compared to the consensus estimate of $43.85 million. On average, equities research analysts anticipate that Meet Group will post 0.21 EPS for the current fiscal year.

In related news, major shareholder Luxor Capital Group, Lp purchased 247,567 shares of Meet Group stock in a transaction on Friday, October 5th. The stock was bought at an average price of $5.27 per share, with a total value of $1,304,678.09. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Spencer Garrett Rhodes purchased 11,985 shares of Meet Group stock in a transaction on Monday, November 12th. The stock was bought at an average cost of $3.77 per share, with a total value of $45,183.45. Following the transaction, the director now directly owns 80,466 shares of the company’s stock, valued at $303,356.82. The disclosure for this purchase can be found here. Insiders acquired 1,431,533 shares of company stock worth $6,440,183 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Several large investors have recently made changes to their positions in MEET. BlackRock Inc. lifted its position in shares of Meet Group by 17.6% in the second quarter. BlackRock Inc. now owns 4,823,976 shares of the information services provider’s stock worth $21,611,000 after buying an additional 721,187 shares during the last quarter. Intrinsic Edge Capital Management LLC lifted its position in shares of Meet Group by 142.7% in the second quarter. Intrinsic Edge Capital Management LLC now owns 1,105,416 shares of the information services provider’s stock worth $4,952,000 after buying an additional 650,000 shares during the last quarter. Millennium Management LLC lifted its position in shares of Meet Group by 74.2% in the second quarter. Millennium Management LLC now owns 1,332,693 shares of the information services provider’s stock worth $5,970,000 after buying an additional 567,518 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Meet Group by 1,767.8% in the third quarter. JPMorgan Chase & Co. now owns 487,855 shares of the information services provider’s stock worth $2,415,000 after buying an additional 461,736 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Meet Group by 234.6% in the third quarter. Acadian Asset Management LLC now owns 309,530 shares of the information services provider’s stock worth $1,533,000 after buying an additional 217,019 shares during the last quarter. 51.84% of the stock is owned by institutional investors.

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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