Meet Group (MEET) Cut to Hold at ValuEngine

ValuEngine cut shares of Meet Group (NASDAQ:MEET) from a buy rating to a hold rating in a research report released on Friday morning, ValuEngine reports.

Other equities analysts have also issued research reports about the stock. Roth Capital upped their price objective on shares of Meet Group from $6.75 to $8.00 in a report on Wednesday, January 9th. BidaskClub upgraded shares of Meet Group from a sell rating to a hold rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $5.75.

Shares of NASDAQ MEET opened at $4.94 on Friday. Meet Group has a 1-year low of $2.26 and a 1-year high of $6.27. The stock has a market cap of $370.16 million, a PE ratio of 20.58, a P/E/G ratio of 0.75 and a beta of 1.43. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.09.

Meet Group (NASDAQ:MEET) last announced its quarterly earnings data on Wednesday, March 6th. The information services provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Meet Group had a net margin of 0.64% and a return on equity of 9.66%. The firm had revenue of $52.46 million for the quarter, compared to analyst estimates of $52.30 million. Equities analysts anticipate that Meet Group will post 0.33 EPS for the current year.

In related news, major shareholder Luxor Capital Group, Lp acquired 51,231 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were purchased at an average price of $5.24 per share, for a total transaction of $268,450.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 1,207,541 shares of company stock worth $6,476,805 in the last quarter. Company insiders own 6.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Meet Group in the 4th quarter worth about $50,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Meet Group in the 4th quarter worth about $53,000. Virtu Financial LLC acquired a new stake in shares of Meet Group in the 3rd quarter worth about $110,000. Metropolitan Life Insurance Co. NY raised its holdings in shares of Meet Group by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 24,431 shares of the information services provider’s stock worth $113,000 after acquiring an additional 19,081 shares during the last quarter. Finally, CAPROCK Group Inc. acquired a new stake in shares of Meet Group in the 4th quarter worth about $118,000. Institutional investors own 59.56% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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