Insider Selling: Meet Group Inc (NASDAQ:MEET) Director Sells 5,151 Shares of Stock

Meet Group Inc (NASDAQ:MEET) Director Jason Whitt sold 5,151 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $3.75, for a total transaction of $19,316.25. Following the completion of the transaction, the director now directly owns 38,731 shares in the company, valued at $145,241.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

NASDAQ:MEET traded up $0.14 during mid-day trading on Friday, hitting $3.48. 973,045 shares of the company’s stock were exchanged, compared to its average volume of 1,475,634. The company has a market cap of $262.11 million, a price-to-earnings ratio of 14.50, a P/E/G ratio of 0.48 and a beta of 1.76. Meet Group Inc has a fifty-two week low of $3.05 and a fifty-two week high of $6.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50 day moving average is $3.82.

Meet Group (NASDAQ:MEET) last issued its quarterly earnings results on Wednesday, May 8th. The information services provider reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. The firm had revenue of $49.51 million for 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%. On average, analysts forecast that Meet Group Inc will post 0.34 earnings per share for the current year.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Meet Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. BidaskClub lowered shares of Meet Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Northland Securities reaffirmed a “buy” rating and set a $7.00 price target on shares of Meet Group in a report on Thursday, May 9th. ValuEngine lowered shares of Meet Group from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Aegis assumed coverage on shares of Meet Group in a report on Tuesday, May 14th. They set a “buy” rating and a $6.25 price target on the stock. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $6.54.

Several large investors have recently added to or reduced their stakes in MEET. Acadian Asset Management LLC increased its stake in shares of Meet Group by 176.6% in the 1st quarter. Acadian Asset Management LLC now owns 899,913 shares of the information services provider’s stock valued at $4,527,000 after acquiring an additional 574,541 shares in the last quarter. BlackRock Inc. increased its stake in shares of Meet Group by 11.1% in the 4th quarter. BlackRock Inc. now owns 5,524,371 shares of the information services provider’s stock valued at $25,578,000 after acquiring an additional 552,402 shares in the last quarter. 361 Capital LLC bought a new stake in shares of Meet Group in the 1st quarter valued at $2,457,000. JPMorgan Chase & Co. increased its stake in shares of Meet Group by 1,767.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 487,855 shares of the information services provider’s stock valued at $2,415,000 after acquiring an additional 461,736 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Meet Group in the 1st quarter valued at $2,314,000. 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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Insider Buying and Selling by Quarter for Meet Group (NASDAQ:MEET)

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