Meet Group (NASDAQ:MEET) Stock Rating Reaffirmed by Aegis
Meet Group (NASDAQ:MEET)‘s stock had its “buy” rating restated by equities researchers at Aegis in a research report issued on Thursday, AnalystRatings.com reports. They presently have a $6.25 price objective on the information services provider’s stock. Aegis’ target price would suggest a potential upside of 78.57% from the stock’s previous close.
The analysts wrote, “We recently held investor meetings with MEET’s CEO Geoffrey Cook, in which he noted that several new near-term engagement and monetization features are on track for launch in the second half. Levels, which encourages both streamers and viewers to increase usage to unlock features by leveling up, is expected to launch on MeetMe and Skout later summer. Levels should increase engagement of the apps. Others such as the Dating Game, which is a nightly speed dating game, is also on track for lunch in 2H19, and should also increase app engagement. MEET also plans to launch special events and thematic Battles, which should drive both monetization and engagement. Lastly, MEET is also expecting to launch a standalone live app for users who want to engage in live streaming but do not want to do so on a dating product.””
MEET has been the subject of several other research reports. ValuEngine upgraded shares of WEX from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. BidaskClub upgraded shares of Yandex from a “buy” rating to a “strong-buy” rating in a report on Friday, June 14th. CIBC reiterated a “buy” rating and issued a $9.00 target price on shares of Alamos Gold in a report on Friday, June 21st. Northland Securities reiterated a “buy” rating and issued a $55.00 target price on shares of Heron Therapeutics in a report on Thursday, May 9th. Finally, Canaccord Genuity set a $394.00 target price on shares of Tesla and gave the company a “buy” rating in a report on Wednesday, July 3rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $6.82.
Meet Group (NASDAQ:MEET) last announced its earnings results on Wednesday, May 8th. The information services provider reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.01. The company had revenue of $49.51 million during 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%. As a group, sell-side analysts forecast that Meet Group will post 0.34 earnings per share for the current fiscal year.
In related news, Director Spencer B. Grimes acquired 16,400 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $4.30 per share, for a total transaction of $70,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Spencer B. Grimes acquired 11,300 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were bought at an average price of $4.40 per share, with a total value of $49,720.00. The disclosure for this purchase can be found here. Company insiders own 6.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MEET. Acadian Asset Management LLC increased its holdings in Meet Group by 176.6% during the first quarter. Acadian Asset Management LLC now owns 899,913 shares of the information services provider’s stock worth $4,527,000 after buying an additional 574,541 shares during the last quarter. BlackRock Inc. increased its holdings in Meet Group by 11.1% during the fourth quarter. BlackRock Inc. now owns 5,524,371 shares of the information services provider’s stock worth $25,578,000 after buying an additional 552,402 shares during the last quarter. 361 Capital LLC purchased a new stake in Meet Group during the first quarter worth about $2,457,000. State of New Jersey Common Pension Fund D purchased a new stake in Meet Group during the first quarter worth about $2,314,000. Finally, ClariVest Asset Management LLC purchased a new stake in Meet Group during the first quarter worth about $1,898,000. 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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