California Public Employees Retirement System Cuts Stock Position in Meet Group Inc (NASDAQ:MEET)

California Public Employees Retirement System decreased its position in shares of Meet Group Inc (NASDAQ:MEET) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,431 shares of the information services provider’s stock after selling 2,811 shares during the period. California Public Employees Retirement System owned about 0.08% of Meet Group worth $195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MEET. Putnam Investments LLC purchased a new position in Meet Group during the 2nd quarter valued at about $2,670,000. Acadian Asset Management LLC increased its stake in Meet Group by 79.7% during the second quarter. Acadian Asset Management LLC now owns 1,617,456 shares of the information services provider’s stock worth $5,629,000 after purchasing an additional 717,543 shares during the period. AQR Capital Management LLC increased its stake in Meet Group by 445.0% during the second quarter. AQR Capital Management LLC now owns 472,094 shares of the information services provider’s stock worth $1,643,000 after purchasing an additional 385,472 shares during the period. SG Americas Securities LLC lifted its position in shares of Meet Group by 1,869.9% during the second quarter. SG Americas Securities LLC now owns 276,224 shares of the information services provider’s stock worth $961,000 after purchasing an additional 262,202 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Meet Group during the second quarter worth about $899,000. 68.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MEET opened at $5.28 on Friday. The stock has a 50-day simple moving average of $4.68 and a 200-day simple moving average of $3.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $378.62 million, a PE ratio of 22.00, a PEG ratio of 0.58 and a beta of 1.57. Meet Group Inc has a 1 year low of $3.05 and a 1 year high of $6.27.

Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Meet Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Canaccord Genuity downgraded shares of Meet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Northland Securities reiterated a “buy” rating and set a $6.00 target price on shares of Meet Group in a report on Friday, November 8th. BidaskClub raised shares of Meet Group from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Roth Capital assumed coverage on shares of Meet Group in a research report on Thursday, November 14th. They issued a “buy” rating and a $6.50 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Meet Group presently has a consensus rating of “Buy” and an average price target of $6.39.

About Meet Group

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.

Featured Story: What strategies should day traders use to execute a trade?

Want to see what other hedge funds are holding MEET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meet Group Inc (NASDAQ:MEET).

Institutional Ownership by Quarter for Meet Group (NASDAQ:MEET)

Receive News & Ratings for Meet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meet Group and related companies with MarketBeat.com's FREE daily email newsletter.