Aegis reiterated their buy rating on shares of Meet Group (NASDAQ:MEET) in a report issued on Thursday, AnalystRatings.com reports. The firm currently has a $6.25 price objective on the information services provider’s stock.
“We recently held investor meetings with MEET’s CEO Geoffrey Cook, in which he noted that several new near-term engagement and monetization features are on track for launch in the second half. Levels, which encourages both streamers and viewers to increase usage to unlock features by leveling up, is expected to launch on MeetMe and Skout later summer. Levels should increase engagement of the apps. Others such as the Dating Game, which is a nightly speed dating game, is also on track for lunch in 2H19, and should also increase app engagement. MEET also plans to launch special events and thematic Battles, which should drive both monetization and engagement. Lastly, MEET is also expecting to launch a standalone live app for users who want to engage in live streaming but do not want to do so on a dating product.”,” Aegis’ analyst wrote.
Several other brokerages also recently commented on MEET. Northland Securities restated a buy rating and issued a $55.00 price target on shares of Heron Therapeutics in a research report on Thursday, May 9th. CIBC restated a buy rating and issued a $9.00 price target on shares of Alamos Gold in a research report on Friday, June 21st. ValuEngine upgraded shares of WEX from a hold rating to a buy rating in a research report on Thursday, June 13th. Zacks Investment Research downgraded shares of ExlService from a hold rating to a sell rating in a research report on Wednesday. Finally, BidaskClub upgraded shares of Yandex from a buy rating to a strong-buy rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Meet Group presently has a consensus rating of Hold and a consensus target price of $6.82.
Shares of NASDAQ:MEET opened at $3.50 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.12. The stock has a market cap of $263.62 million, a P/E ratio of 14.58, a PEG ratio of 0.51 and a beta of 1.51. Meet Group has a 52 week low of $3.05 and a 52 week high of $6.27. The company has a 50 day moving average price of $3.60.
Meet Group (NASDAQ:MEET) last issued its quarterly earnings results on Wednesday, May 8th. The information services provider reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The business had revenue of $49.51 million during the quarter, compared to the consensus estimate of $47.70 million. Meet Group had a net margin of 3.47% and a return on equity of 10.76%. As a group, sell-side analysts predict that Meet Group will post 0.34 EPS for the current year.
In related news, Director Spencer B. Grimes acquired 11,300 shares of the company’s stock in a transaction on Friday, May 10th. The shares were purchased at an average price of $4.40 per share, for a total transaction of $49,720.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Spencer B. Grimes acquired 16,400 shares of the company’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of $4.30 per share, for a total transaction of $70,520.00. The disclosure for this purchase can be found here. 6.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Meet Group during the 4th quarter worth $50,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Meet Group during the 4th quarter worth $53,000. SG Americas Securities LLC acquired a new position in shares of Meet Group during the 1st quarter worth $71,000. BNP Paribas Arbitrage SA increased its stake in shares of Meet Group by 466.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 14,684 shares of the information services provider’s stock worth $74,000 after purchasing an additional 12,093 shares during the last quarter. Finally, WINTON GROUP Ltd increased its stake in shares of Meet Group by 12.9% during the 2nd quarter. WINTON GROUP Ltd now owns 25,579 shares of the information services provider’s stock worth $89,000 after purchasing an additional 2,931 shares during the last quarter. Hedge funds and other institutional investors own 67.03% of the company’s stock.
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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