Squarepoint Ops LLC trimmed its holdings in shares of Meet Group Inc (NASDAQ:MEET) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,892 shares of the information services provider’s stock after selling 7,749 shares during the period. Squarepoint Ops LLC’s holdings in Meet Group were worth $138,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of MEET. Cambridge Investment Research Advisors Inc. acquired a new stake in Meet Group in the 4th quarter valued at about $50,000. D. E. Shaw & Co. Inc. acquired a new stake in Meet Group in the 4th quarter valued at about $53,000. Virtu Financial LLC acquired a new stake in Meet Group in the 3rd quarter valued at about $110,000. CAPROCK Group Inc. acquired a new stake in Meet Group in the 4th quarter valued at about $118,000. Finally, Fosun International Ltd acquired a new stake in Meet Group in the 4th quarter valued at about $214,000. Institutional investors own 59.56% of the company’s stock.
Several equities research analysts recently issued reports on the stock. BidaskClub downgraded shares of Meet Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Roth Capital raised their target price on shares of Meet Group from $6.75 to $8.00 in a research note on Wednesday, January 9th. Finally, ValuEngine downgraded shares of Meet Group from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Meet Group currently has an average rating of “Hold” and a consensus target price of $5.75.
Meet Group (NASDAQ:MEET) last released its quarterly earnings results on Wednesday, March 6th. The information services provider reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The firm had revenue of $52.46 million for the quarter, compared to analysts’ expectations of $52.30 million. Meet Group had a net margin of 0.64% and a return on equity of 9.66%. On average, sell-side analysts expect that Meet Group Inc will post 0.33 EPS for the current year.
In related news, major shareholder Luxor Capital Group, Lp purchased 49,900 shares of the stock in a transaction on Monday, April 8th. The shares were purchased at an average cost of $5.26 per share, with a total value of $262,474.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders acquired 1,207,541 shares of company stock worth $6,476,805. Insiders own 6.10% of the company’s stock.
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Meet Group 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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