MeetMe, Inc. (NASDAQ:MEET) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

According to Zacks, “The Meet Group, Inc. is a social media technology company. It offers information sharing, social interaction and mobile application development services. The company’s app consists of currently MeetMe (R), Skout(R), Tagged(R) and Hi5(R). The Meet Group Inc., formerly known as MeetMe Inc., is headquartered in New Hope, Pennsylvania. “

MEET has been the subject of a number of other research reports. Canaccord Genuity lowered MeetMe from a “buy” rating to a “hold” rating and set a $10.00 price objective for the company. in a research note on Thursday, November 9th. Roth Capital reiterated a “buy” rating and set a $7.25 price objective on shares of MeetMe in a research note on Wednesday, October 25th. BidaskClub lowered MeetMe from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 15th. Finally, JMP Securities lowered MeetMe from an “outperform” rating to a “market perform” rating and set a $6.00 price objective for the company. in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $8.06.

MeetMe (MEET) traded up $0.07 during midday trading on Friday, hitting $2.69. The company’s stock had a trading volume of 683,537 shares, compared to its average volume of 1,534,070. The stock has a market cap of $193.16, a price-to-earnings ratio of 7.28, a P/E/G ratio of 0.53 and a beta of 1.05. MeetMe has a twelve month low of $2.19 and a twelve month high of $6.45.

MeetMe (NASDAQ:MEET) last released its quarterly earnings data on Wednesday, November 8th. The information services provider reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. The business had revenue of $32.25 million during the quarter, compared to analyst estimates of $32.33 million. MeetMe had a return on equity of 10.85% and a net margin of 11.90%. The company’s revenue was up 87.6% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. equities research analysts forecast that MeetMe will post 0.25 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Highbridge Capital Management LLC increased its stake in shares of MeetMe by 75.7% in the 3rd quarter. Highbridge Capital Management LLC now owns 225,956 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 97,340 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of MeetMe by 109.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 142,402 shares of the information services provider’s stock valued at $518,000 after purchasing an additional 74,313 shares in the last quarter. Symons Capital Management Inc. purchased a new position in shares of MeetMe in the 3rd quarter valued at about $428,000. Alps Advisors Inc. increased its stake in shares of MeetMe by 22.8% in the 3rd quarter. Alps Advisors Inc. now owns 117,331 shares of the information services provider’s stock valued at $427,000 after purchasing an additional 21,752 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of MeetMe by 5.2% in the 3rd quarter. American Century Companies Inc. now owns 588,729 shares of the information services provider’s stock valued at $2,143,000 after purchasing an additional 29,245 shares in the last quarter. Hedge funds and other institutional investors own 56.04% of the company’s stock.

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MeetMe Company Profile

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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