Meet Group (NASDAQ:MEET) Shares Up 1.7%

Meet Group Inc (NASDAQ:MEET)’s share price shot up 1.7% on Thursday . The stock traded as high as $3.69 and last traded at $3.69, 34,915 shares changed hands during trading. A decline of 97% from the average session volume of 1,150,727 shares. The stock had previously closed at $3.63.

Several research firms have recently weighed in on MEET. Zacks Investment Research lowered shares of Meet Group from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Northland Securities reiterated a “buy” rating and issued a $7.00 price target on shares of Meet Group in a research note on Thursday, May 9th. CIBC started coverage on shares of Meet Group in a research note on Friday, June 21st. They issued an “outperform” rating and a $7.00 price target on the stock. ValuEngine lowered shares of Meet Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. Finally, Oppenheimer started coverage on shares of Meet Group in a research note on Thursday, June 20th. They issued an “outperform” rating and a $7.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.71.

The firm has a market cap of $289.78 million, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 0.42 and a beta of 1.47. The stock’s 50 day moving average is $3.50 and its 200 day moving average is $4.52. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.10.

Meet Group (NASDAQ:MEET) last announced its quarterly earnings results on Wednesday, July 31st. The information services provider reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. Meet Group had a net margin of 4.53% and a return on equity of 11.30%. The business had revenue of $52.00 million for the quarter, compared to analyst estimates of $50.67 million. On average, equities research analysts predict that Meet Group Inc will post 0.34 EPS for the current year.

Several large investors have recently made changes to their positions in MEET. Putnam Investments LLC acquired a new position in shares of Meet Group during the 2nd quarter worth approximately $2,670,000. Acadian Asset Management LLC grew its position in shares of Meet Group by 79.7% during the 2nd 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 in the last quarter. 361 Capital LLC acquired a new position in shares of Meet Group during the 1st quarter worth approximately $2,457,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Meet Group during the 1st quarter worth approximately $2,314,000. Finally, AQR Capital Management LLC grew its position in shares of Meet Group by 445.0% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 66.84% of the company’s stock.

Meet Group Company Profile (NASDAQ:MEET)

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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