Roth Capital Boosts Meet Group (MEET) Price Target to $8.00

Meet Group (NASDAQ:MEET) had its target price lifted by Roth Capital from $6.75 to $8.00 in a report published on Wednesday morning, The Fly reports.

A number of other analysts also recently weighed in on MEET. BidaskClub upgraded Meet Group from a sell rating to a hold rating in a research report on Wednesday, January 2nd. ValuEngine downgraded Meet Group from a buy rating to a hold rating in a research report on Saturday, November 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Meet Group has a consensus rating of Hold and a consensus target price of $5.75.

Shares of MEET traded down $0.46 during trading hours on Wednesday, reaching $5.35. 2,503,518 shares of the company’s stock traded hands, compared to its average volume of 1,986,019. The company has a market cap of $415.55 million, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.02 and a beta of 1.15. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.13. Meet Group has a 12 month low of $1.84 and a 12 month high of $6.00.

Meet Group (NASDAQ:MEET) last issued its quarterly earnings results on Wednesday, November 7th. The information services provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $45.72 million during the quarter, compared to the consensus estimate of $43.85 million. Meet Group had a positive return on equity of 10.15% and a negative net margin of 42.63%. As a group, analysts predict that Meet Group will post 0.22 earnings per share for the current year.

In related news, Director Spencer Garrett Rhodes acquired 11,985 shares of the stock in a transaction on Monday, November 12th. The stock was purchased at an average price of $3.77 per share, for a total transaction of $45,183.45. Following the completion of the transaction, the director now owns 80,466 shares of the company’s stock, valued at approximately $303,356.82. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Luxor Capital Group, Lp acquired 155,229 shares of the stock in a transaction on Friday, October 19th. The stock was bought at an average price of $4.40 per share, with a total value of $683,007.60. The disclosure for this purchase can be found here. Insiders acquired 3,037,361 shares of company stock valued at $13,627,251 in the last quarter. Corporate insiders own 6.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MEET. First Trust Advisors LP purchased a new position in shares of Meet Group during the second quarter valued at approximately $368,000. Alps Advisors Inc. purchased a new position in shares of Meet Group during the second quarter valued at approximately $308,000. Russell Investments Group Ltd. increased its stake in shares of Meet Group by 18.0% during the second quarter. Russell Investments Group Ltd. now owns 283,011 shares of the information services provider’s stock valued at $1,267,000 after buying an additional 43,162 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Meet Group by 17.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 142,044 shares of the information services provider’s stock valued at $637,000 after buying an additional 20,844 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Meet Group by 17.6% during the second quarter. BlackRock Inc. now owns 4,823,976 shares of the information services provider’s stock valued at $21,611,000 after buying an additional 721,187 shares during the period. 56.08% of the stock is currently owned by hedge funds and other institutional investors.

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: Growth Stocks

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