Zacks Investment Research Lowers Meet Group (NASDAQ:MEET) to Hold

Zacks Investment Research cut shares of Meet Group (NASDAQ:MEET) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “The Meet Group, Inc. is a social media technology company. It offers information sharing, social interaction and mobile application development services. The company’s app consists of currently MeetMe (R), Skout(R), Tagged(R) and Hi5(R). The Meet Group Inc., formerly known as MeetMe Inc., is headquartered in New Hope, Pennsylvania. “

A number of other equities research analysts also recently commented on MEET. BidaskClub raised shares of Yandex from a buy rating to a strong-buy rating in a research report on Friday, June 14th. Northland Securities restated a buy rating and issued a $55.00 target price on shares of Heron Therapeutics in a report on Thursday, May 9th. Aegis restated a buy rating and issued a $6.25 target price on shares of Meet Group in a report on Thursday, July 11th. ValuEngine upgraded shares of WEX from a hold rating to a buy rating in a report on Thursday, June 13th. Finally, CIBC restated a buy rating and issued a $9.00 target price on shares of Alamos Gold in a report on Friday, June 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $6.75.

Shares of NASDAQ:MEET opened at $3.54 on Wednesday. Meet Group has a 52 week low of $3.05 and a 52 week high of $6.27. The firm has a 50 day moving average price of $3.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $268.14 million, a P/E ratio of 13.19, a PEG ratio of 0.52 and a beta of 1.51.

Meet Group (NASDAQ:MEET) last announced its quarterly earnings data on Wednesday, May 8th. The information services provider reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Meet Group had a net margin of 3.47% and a return on equity of 10.76%. The company had revenue of $49.51 million for the quarter, compared to the consensus estimate of $47.70 million. As a group, research analysts expect that Meet Group will post 0.34 earnings per share for the current fiscal year.

In other Meet Group news, Director Spencer B. Grimes purchased 16,400 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $4.30 per share, for a total transaction of $70,520.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Spencer B. Grimes purchased 11,300 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $4.40 per share, with a total value of $49,720.00. The disclosure for this purchase can be found here. Corporate insiders own 6.10% of the company’s stock.

A number of large investors have recently modified their holdings of MEET. Acadian Asset Management LLC boosted its stake in Meet Group by 176.6% during the 1st quarter. Acadian Asset Management LLC now owns 899,913 shares of the information services provider’s stock worth $4,527,000 after purchasing an additional 574,541 shares during the period. BlackRock Inc. boosted its stake in Meet Group by 11.1% during the 4th quarter. BlackRock Inc. now owns 5,524,371 shares of the information services provider’s stock worth $25,578,000 after purchasing an additional 552,402 shares during the period. 361 Capital LLC acquired a new stake in Meet Group during the 1st quarter worth $2,457,000. State of New Jersey Common Pension Fund D acquired a new stake in Meet Group during the 1st quarter worth $2,314,000. Finally, ClariVest Asset Management LLC acquired a new stake in Meet Group during the 1st quarter worth $1,898,000. Hedge funds and other institutional investors own 67.06% 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.

Recommended Story: Discover Your Risk Tolerance

Get a free copy of the Zacks research report on Meet Group (MEET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Meet Group (NASDAQ:MEET)

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.