CIBC initiated coverage on shares of Meet Group (NASDAQ:MEET) in a research note issued to investors on Friday morning, FirstToMarketsRatingsTable reports. The brokerage issued an outperform rating and a $7.00 target price on the information services provider’s stock.

A number of other analysts have also weighed in on MEET. BidaskClub lowered shares of Meet Group from a hold rating to a sell rating in a research note on Wednesday, April 3rd. ValuEngine lowered shares of Meet Group from a buy rating to a hold rating in a research note on Friday, April 19th. Zacks Investment Research lowered shares of Meet Group from a buy rating to a hold rating in a research note on Wednesday, May 8th. Northland Securities reaffirmed a buy rating and issued a $7.00 price objective on shares of Meet Group in a research note on Thursday, May 9th. Finally, Aegis initiated coverage on shares of Meet Group in a report on Tuesday, May 14th. They issued a buy rating and a $6.25 target price for the company. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $6.54.

Shares of MEET opened at $3.31 on Friday. Meet Group has a 12-month low of $3.05 and a 12-month high of $6.27. The company’s fifty day moving average is $3.97. The stock has a market capitalization of $268.89 million, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.52 and a beta of 1.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 1.13.

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

In other news, Director Spencer B. Grimes bought 16,400 shares of Meet Group stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $4.30 per share, for a total transaction of $70,520.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Luxor Capital Group, Lp bought 125,100 shares of Meet Group stock in a transaction on Friday, April 5th. The stock was purchased at an average price of $5.30 per share, with a total value of $663,030.00. The disclosure for this purchase can be found here. Insiders acquired 385,700 shares of company stock valued at $1,973,554 over the last quarter. 6.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in shares of Meet Group by 0.4% during the fourth quarter. Northern Trust Corp now owns 792,944 shares of the information services provider’s stock valued at $3,672,000 after acquiring an additional 3,307 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Meet Group by 6.9% during the first quarter. Rhumbline Advisers now owns 104,966 shares of the information services provider’s stock valued at $528,000 after acquiring an additional 6,800 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Meet Group during the fourth quarter valued at about $50,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Meet Group during the fourth quarter valued at about $53,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Meet Group by 466.7% during the first quarter. BNP Paribas Arbitrage SA now owns 14,684 shares of the information services provider’s stock valued at $74,000 after acquiring an additional 12,093 shares in the last quarter. 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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Analyst Recommendations for Meet Group (NASDAQ:MEET)

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