Meet Group Inc (NASDAQ:MEET) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Meet Group Inc (NASDAQ:MEET) have received an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $7.21.

MEET has been the topic of several research analyst reports. Oppenheimer initiated coverage on shares of Meet Group in a research report on Thursday, June 20th. They set an “outperform” rating and a $7.00 target price on the stock. ValuEngine downgraded shares of Meet Group from a “hold” rating to a “sell” rating in a research report on Thursday, June 13th. Aegis reissued a “buy” rating and set a $6.25 target price on shares of Meet Group in a research report on Thursday, July 11th. Zacks Investment Research downgraded shares of Meet Group from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Canaccord Genuity set a $8.00 target price on shares of Meet Group and gave the stock a “buy” rating in a research report on Wednesday, July 3rd.

Shares of Meet Group stock traded down $0.26 on Friday, reaching $3.54. The stock had a trading volume of 1,592,236 shares, compared to its average volume of 1,191,444. The company has a 50 day moving average price of $3.50 and a 200 day moving average price of $4.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.10. Meet Group has a 1 year low of $3.05 and a 1 year high of $6.27. The stock has a market capitalization of $276.82 million, a P/E ratio of 14.75, a P/E/G ratio of 0.44 and a beta of 1.47.

Meet Group (NASDAQ:MEET) last issued its quarterly earnings data on Wednesday, July 31st. The information services provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Meet Group had a net margin of 4.53% and a return on equity of 11.30%. The firm had revenue of $52.00 million for the quarter, compared to the consensus estimate of $50.67 million. On average, analysts forecast that Meet Group will post 0.34 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Luxor Capital Group LP grew its position in Meet Group by 1.5% during the 2nd quarter. Luxor Capital Group LP now owns 12,032,344 shares of the information services provider’s stock worth $41,873,000 after purchasing an additional 175,000 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in Meet Group by 121.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 57,935 shares of the information services provider’s stock worth $201,000 after purchasing an additional 31,785 shares during the last quarter. United Services Automobile Association grew its position in Meet Group by 4.2% during the 2nd quarter. United Services Automobile Association now owns 177,332 shares of the information services provider’s stock worth $617,000 after purchasing an additional 7,200 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Meet Group during the 2nd quarter worth approximately $67,000. Finally, Jane Street Group LLC purchased a new stake in Meet Group during the 2nd quarter worth approximately $58,000. 66.84% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Meet Group (NASDAQ:MEET)

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