Meet Group (NASDAQ:MEET) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday, BidAskClub reports.

Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Meet Group from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Meet Group from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Wednesday, May 15th. Aegis assumed coverage on shares of Meet Group in a research report on Tuesday, May 14th. They set a “buy” rating and a $6.25 price objective for the company. Finally, Northland Securities restated a “buy” rating and set a $7.00 price objective on shares of Meet Group in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Meet Group has an average rating of “Hold” and a consensus target price of $6.35.

Meet Group stock opened at $3.25 on Friday. Meet Group has a 12-month low of $3.05 and a 12-month high of $6.27. The stock has a market cap of $244.79 million, a P/E ratio of 12.04, a PEG ratio of 0.47 and a beta of 1.76. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.12.

Meet Group (NASDAQ:MEET) last released its quarterly earnings data on Wednesday, May 8th. The information services provider reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $49.51 million during the quarter, compared to analysts’ expectations of $47.70 million. As a group, equities research analysts predict that Meet Group will post 0.34 earnings per share for the current year.

In related news, major shareholder Luxor Capital Group, Lp purchased 125,100 shares of the company’s stock in a transaction on Friday, April 5th. The stock was acquired at an average cost of $5.30 per share, for a total transaction of $663,030.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Spencer B. Grimes purchased 16,400 shares of the company’s stock in a transaction on Monday, May 13th. The shares were bought at an average price of $4.30 per share, with a total value of $70,520.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 385,700 shares of company stock valued at $1,973,554. Company insiders own 6.10% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Meet Group during the fourth quarter valued at about $50,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Meet Group during the fourth quarter valued at about $53,000. Raymond James & Associates acquired a new stake in shares of Meet Group during the first quarter valued at about $54,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Meet Group during the first quarter valued at about $68,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Meet Group during the first quarter valued at about $71,000. Institutional investors and hedge funds own 67.03% 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.

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