Meet Group (NASDAQ:MEET) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Meet Group (NASDAQ:MEET) from a strong-buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “The Meet Group, Inc. is a social media technology company. It offers information sharing, social interaction and mobile application development services. The company’s app consists of currently MeetMe (R), Skout(R), Tagged(R) and Hi5(R). The Meet Group Inc., formerly known as MeetMe Inc., is headquartered in New Hope, Pennsylvania. “

Several other research firms have also issued reports on MEET. BidaskClub raised Yandex from a buy rating to a strong-buy rating in a research report on Friday, June 14th. Aegis began coverage on Meet Group in a research report on Tuesday, May 14th. They issued a buy rating and a $6.25 target price for the company. Canaccord Genuity set a $394.00 target price on Tesla and gave the stock a buy rating in a research report on Wednesday, July 3rd. ValuEngine raised WEX from a hold rating to a buy rating in a research report on Thursday, June 13th. Finally, CIBC reissued a buy rating and issued a $9.00 target price on shares of Alamos Gold in a research report on Friday, June 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $6.82.

Shares of MEET traded down $0.03 during trading hours on Wednesday, hitting $3.46. The company had a trading volume of 1,059,948 shares, compared to its average volume of 1,436,641. The company’s fifty day moving average is $3.61. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $259.10 million, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51. Meet Group has a 52-week low of $3.05 and a 52-week high of $6.27.

Meet Group (NASDAQ:MEET) last posted its quarterly earnings results on Wednesday, May 8th. The information services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $49.51 million during the quarter, compared to analyst estimates of $47.70 million. Meet Group had a return on equity of 10.76% and a net margin of 3.47%. On average, sell-side analysts predict that Meet Group will post 0.34 EPS for the current year.

In other news, Director Spencer B. Grimes purchased 11,300 shares of the business’s stock in a transaction on Friday, May 10th. The stock was acquired at an average cost of $4.40 per share, for a total transaction of $49,720.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Spencer B. Grimes purchased 16,400 shares of the business’s stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $4.30 per share, with a total value of $70,520.00. The disclosure for this purchase can be found here. 6.10% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Meet Group during the 4th quarter valued at about $50,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Meet Group during the 4th quarter valued at about $53,000. SG Americas Securities LLC bought a new stake in shares of Meet Group during the 1st quarter valued at about $71,000. BNP Paribas Arbitrage SA grew its stake in shares of Meet Group by 466.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 14,684 shares of the information services provider’s stock valued at $74,000 after purchasing an additional 12,093 shares during the period. Finally, WINTON GROUP Ltd grew its stake in shares of Meet Group by 12.9% during the 2nd quarter. WINTON GROUP Ltd now owns 25,579 shares of the information services provider’s stock valued at $89,000 after purchasing an additional 2,931 shares during the period. Institutional investors and hedge funds own 67.03% of the company’s stock.

Meet Group Company Profile

The Meet Group, Inc operates a portfolio of mobile social entertainment applications to meet the need for human connection worldwide. The company leverages a live-streaming video platform, empowering community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, Tagged, and Growlr, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

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