Meet Group (MEET) Cut to “Sell” at BidaskClub

Meet Group (NASDAQ:MEET) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other research firms also recently commented on MEET. Canaccord Genuity upgraded Meet Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $3.00 to $6.00 in a research report on Thursday, July 19th. ValuEngine upgraded Meet Group from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Zacks Investment Research downgraded Meet Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, TheStreet upgraded Meet Group from a “d+” rating to a “c-” rating in a research report on Monday, August 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $4.63.

MEET opened at $4.82 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. The firm has a market cap of $362.06 million, a price-to-earnings ratio of 15.55, a PEG ratio of 1.27 and a beta of 1.60. Meet Group has a one year low of $1.84 and a one year high of $5.63.

Meet Group (NASDAQ:MEET) last posted its earnings results on Wednesday, August 1st. The information services provider reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The company had revenue of $42.80 million for the quarter, compared to the consensus estimate of $38.25 million. Meet Group had a positive return on equity of 10.24% and a negative net margin of 45.79%. On average, equities analysts anticipate that Meet Group will post 0.2 earnings per share for the current year.

In related news, major shareholder Luxor Capital Group, Lp acquired 247,567 shares of Meet Group stock in a transaction dated Friday, October 5th. The shares were acquired at an average cost of $5.27 per share, for a total transaction of $1,304,678.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of MEET. Wells Fargo & Company MN lifted its position in shares of Meet Group by 40.2% in the first quarter. Wells Fargo & Company MN now owns 155,670 shares of the information services provider’s stock valued at $325,000 after acquiring an additional 44,624 shares in the last quarter. Northern Trust Corp lifted its position in shares of Meet Group by 3.6% in the first quarter. Northern Trust Corp now owns 742,190 shares of the information services provider’s stock valued at $1,552,000 after acquiring an additional 26,067 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Meet Group by 167.5% in the first quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock valued at $126,000 after acquiring an additional 37,677 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Meet Group by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,998,792 shares of the information services provider’s stock valued at $12,537,000 after acquiring an additional 328,995 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Meet Group by 285.7% in the first quarter. GSA Capital Partners LLP now owns 337,500 shares of the information services provider’s stock valued at $705,000 after acquiring an additional 250,000 shares in the last quarter. Institutional investors and hedge funds own 51.64% of the company’s stock.

Meet Group Company Profile

The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company leverages a powerful live-streaming video platform, empowering global community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, and Tagged, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.

Further Reading: How to calculate the intrinsic value of a stock

Receive News & Ratings for Meet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meet Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply