Analysts Set Meet Group Inc (MEET) Target Price at $6.35

Shares of Meet Group Inc (NASDAQ:MEET) have received an average recommendation of “Buy” from the eight brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $6.35.

A number of research analysts have recently weighed in on the company. BidaskClub downgraded Meet Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 29th. Zacks Investment Research upgraded Meet Group from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Wednesday, May 15th. Aegis assumed coverage on Meet Group in a report on Tuesday, May 14th. They set a “buy” rating and a $6.25 price target on the stock. ValuEngine downgraded Meet Group from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Northland Securities reiterated a “buy” rating and set a $7.00 price target on shares of Meet Group in a report on Thursday, May 9th.

In other news, Director Spencer B. Grimes acquired 16,400 shares of Meet Group stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $4.30 per share, with a total value of $70,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Luxor Capital Group, Lp acquired 183,000 shares of Meet Group stock in a transaction that occurred on Thursday, March 28th. The shares were purchased at an average cost of $5.07 per share, with a total value of $927,810.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 385,700 shares of company stock valued at $1,973,554. Insiders own 6.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB acquired a new stake in Meet Group during the first quarter valued at $895,000. Luxor Capital Group LP boosted its position in Meet Group by 19.8% during the first quarter. Luxor Capital Group LP now owns 11,857,344 shares of the information services provider’s stock valued at $59,642,000 after purchasing an additional 1,961,928 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Meet Group during the first quarter valued at $68,000. SEI Investments Co acquired a new stake in Meet Group during the first quarter valued at $437,000. Finally, Jefferies Group LLC boosted its position in Meet Group by 24.4% during the first quarter. Jefferies Group LLC now owns 20,904 shares of the information services provider’s stock valued at $105,000 after purchasing an additional 4,100 shares during the last quarter. 67.03% of the stock is owned by hedge funds and other institutional investors.

Shares of MEET stock opened at $3.61 on Monday. Meet Group has a 1-year low of $3.33 and a 1-year high of $6.27. 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 firm has a market cap of $287.72 million, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.56 and a beta of 1.76.

Meet Group (NASDAQ:MEET) last issued its quarterly earnings results on Wednesday, May 8th. The information services provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Meet Group had a return on equity of 10.76% and a net margin of 3.47%. The business had revenue of $49.51 million for the quarter, compared to the consensus estimate of $47.70 million. On average, equities research analysts anticipate that Meet Group will post 0.34 EPS for the current year.

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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