Meet Group Inc (NASDAQ:MEET) saw an uptick in trading volume on Tuesday . 8,641,206 shares traded hands during mid-day trading, an increase of 464% from the previous session’s volume of 1,533,052 shares.The stock last traded at $2.84 and had previously closed at $2.32.

MEET has been the subject of several recent research reports. Canaccord Genuity reissued a “hold” rating and issued a $4.00 price target on shares of Meet Group in a research note on Tuesday. Roth Capital reissued a “buy” rating and issued a $7.25 price target on shares of Meet Group in a research note on Wednesday, October 25th. JMP Securities downgraded shares of Meet Group from an “outperform” rating to a “market perform” rating and set a $6.00 price target for the company. in a research note on Thursday, November 9th. Finally, Zacks Investment Research raised shares of Meet Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.56.

The stock has a market capitalization of $203.93, a P/E ratio of 7.89, a PEG ratio of 0.58 and a beta of 0.91.

Meet Group (NASDAQ:MEET) last announced its quarterly earnings data on Wednesday, November 8th. The information services provider reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. The business had revenue of $32.25 million for the quarter, compared to analysts’ expectations of $32.33 million. Meet Group had a net margin of 11.90% and a return on equity of 10.85%. The business’s revenue was up 87.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. equities analysts predict that Meet Group Inc will post 0.25 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Sterling Investment Advisors Ltd. lifted its position in Meet Group by 33.3% during the second quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock valued at $101,000 after purchasing an additional 5,000 shares during the period. Cubist Systematic Strategies LLC lifted its position in Meet Group by 31.8% during the second quarter. Cubist Systematic Strategies LLC now owns 20,022 shares of the information services provider’s stock valued at $101,000 after purchasing an additional 4,827 shares during the period. Parametric Portfolio Associates LLC lifted its position in Meet Group by 56.4% during the second quarter. Parametric Portfolio Associates LLC now owns 26,011 shares of the information services provider’s stock valued at $131,000 after purchasing an additional 9,383 shares during the period. Voya Investment Management LLC lifted its position in Meet Group by 50.0% during the second quarter. Voya Investment Management LLC now owns 28,570 shares of the information services provider’s stock valued at $144,000 after purchasing an additional 9,528 shares during the period. Finally, SG Americas Securities LLC bought a new position in Meet Group during the second quarter valued at approximately $203,000. Institutional investors own 50.85% of the company’s stock.

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About Meet Group

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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