Goldman Sachs Group Inc. Reduces Holdings in MeetMe, Inc. (MEET)
Goldman Sachs Group Inc. decreased its position in shares of MeetMe, Inc. (NASDAQ:MEET) by 47.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 310,354 shares of the information services provider’s stock after selling 283,886 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.43% of MeetMe worth $1,567,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of MEET. Bank of New York Mellon Corp grew its holdings in shares of MeetMe by 8.3% during the first quarter. Bank of New York Mellon Corp now owns 325,789 shares of the information services provider’s stock worth $1,919,000 after purchasing an additional 25,037 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of MeetMe during the first quarter worth about $177,000. American International Group Inc. grew its holdings in shares of MeetMe by 7.1% during the first quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock worth $150,000 after purchasing an additional 1,683 shares during the last quarter. Thrivent Financial For Lutherans purchased a new position in shares of MeetMe during the first quarter worth about $1,118,000. Finally, Vanguard Group Inc. grew its holdings in shares of MeetMe by 24.3% during the first quarter. Vanguard Group Inc. now owns 2,517,889 shares of the information services provider’s stock worth $14,831,000 after purchasing an additional 493,038 shares during the last quarter. 56.28% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on MEET shares. Zacks Investment Research raised MeetMe from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Roth Capital set a $9.00 price target on MeetMe and gave the stock a “buy” rating in a report on Wednesday, July 19th. BidaskClub lowered MeetMe from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, JMP Securities lowered their price target on MeetMe from $8.00 to $6.00 and set a “mkt outperform” rating on the stock in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $8.06.
MeetMe (NASDAQ:MEET) last announced its quarterly earnings data on Thursday, August 3rd. The information services provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. MeetMe had a net margin of 15.95% and a return on equity of 11.47%. The business had revenue of $31.33 million during the quarter, compared to the consensus estimate of $30.70 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company’s revenue for the quarter was up 91.2% compared to the same quarter last year.
The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.
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