Meet Group Inc (NASDAQ:MEET) shares were down 8.2% during mid-day trading on Monday . The company traded as low as $5.13 and last traded at $5.39. Approximately 2,351,054 shares traded hands during mid-day trading, an increase of 68% from the average daily volume of 1,397,116 shares. The stock had previously closed at $5.87.
A number of research analysts have recently issued reports on MEET shares. Roth Capital boosted their price target on shares of Meet Group from $6.75 to $8.00 in a research report on Wednesday, January 9th. ValuEngine downgraded shares of Meet Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 10th. Finally, BidaskClub upgraded shares of Meet Group from a “sell” rating to a “hold” rating in a research report on Saturday, December 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.75.
The stock has a market capitalization of $434.03 million, a PE ratio of 17.39, a P/E/G ratio of 1.07 and a beta of 1.51. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13.
In related news, major shareholder Luxor Capital Group, Lp bought 130,802 shares of the company’s stock in a transaction that occurred on Tuesday, December 18th. The shares were bought at an average price of $3.81 per share, for a total transaction of $498,355.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Geoffrey Cook sold 68,902 shares of the business’s stock in a transaction on Thursday, January 17th. The shares were sold at an average price of $5.47, for a total transaction of $376,893.94. Following the transaction, the chief executive officer now owns 968,676 shares in the company, valued at approximately $5,298,657.72. The disclosure for this sale can be found here. Insiders bought a total of 2,033,194 shares of company stock worth $9,440,172 in the last 90 days. Corporate insiders own 6.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in MEET. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Meet Group during the 4th quarter valued at $50,000. FNY Investment Advisers LLC acquired a new position in shares of Meet Group during the 3rd quarter valued at $108,000. Virtu Financial LLC acquired a new position in shares of Meet Group during the 3rd quarter valued at $110,000. CAPROCK Group Inc. acquired a new position in shares of Meet Group during the 4th quarter valued at $118,000. Finally, Bank of Montreal Can lifted its position in shares of Meet Group by 316.6% during the 3rd quarter. Bank of Montreal Can now owns 27,547 shares of the information services provider’s stock valued at $135,000 after acquiring an additional 20,935 shares during the period. Institutional investors own 56.52% of the company’s stock.
About Meet Group (NASDAQ:MEET)
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: Quick Ratio
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