Meet Group (MEET) Lowered to Hold at ValuEngine

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

Several other analysts have also recently commented on MEET. BidaskClub cut shares of Meet Group from a hold rating to a sell rating in a research note on Wednesday, April 3rd. Northland Securities reaffirmed a buy rating and issued a $7.00 target price on shares of Meet Group in a research note on Thursday, May 9th. Finally, Zacks Investment Research cut shares of Meet Group from a buy rating to a hold rating in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Meet Group currently has an average rating of Hold and a consensus price target of $7.00.

MEET stock opened at $4.09 on Friday. The company has a market capitalization of $317.85 million, a price-to-earnings ratio of 17.04, a PEG ratio of 0.67 and a beta of 1.45. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.17 and a quick ratio of 1.17. Meet Group has a one year low of $2.79 and a one year high of $6.27.

Meet Group (NASDAQ:MEET) last released its earnings results on Wednesday, May 8th. The information services provider reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The firm had revenue of $49.51 million during the quarter, compared to analysts’ expectations of $47.70 million. Meet Group had a net margin of 3.47% and a return on equity of 10.91%. As a group, sell-side analysts expect that Meet Group will post 0.33 EPS for the current year.

In related news, major shareholder Luxor Capital Group, Lp purchased 19,495 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were bought at an average price of $5.77 per share, for a total transaction of $112,486.15. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Spencer B. Grimes purchased 16,400 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of $4.30 per share, for a total transaction of $70,520.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,091,626 shares of company stock worth $5,792,768. 6.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Meet Group by 5.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 47,871 shares of the information services provider’s stock valued at $241,000 after purchasing an additional 2,618 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Meet Group by 0.4% in the 4th quarter. Northern Trust Corp now owns 792,944 shares of the information services provider’s stock valued at $3,672,000 after purchasing an additional 3,307 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Meet Group by 6.9% in the 1st quarter. Rhumbline Advisers now owns 104,966 shares of the information services provider’s stock valued at $528,000 after purchasing an additional 6,800 shares during the last quarter. Raymond James & Associates acquired a new position in shares of Meet Group in the 1st quarter valued at $54,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Meet Group in the 4th quarter valued at $50,000. Institutional investors own 59.14% of the company’s stock.

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.

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