Trading Report: The Tower Research Capital LLC TRC Acquires 12,361 Shares of MeetMe Inc. (MEET)

The Tower Research Capital LLC TRC Acquires 12,361 Shares of MeetMe Inc. (MEET)

Tower Research Capital LLC TRC raised its position in shares of MeetMe Inc. (NASDAQ:MEET) by 125.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,183 shares of the company’s stock after buying an additional 12,361 shares during the period. Tower Research Capital LLC TRC’s holdings in MeetMe were worth $118,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. increased its stake in MeetMe by 3.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 119,500 shares of the company’s stock worth $339,000 after buying an additional 4,400 shares during the last quarter. Acrospire Investment Management LLC increased its stake in MeetMe by 21.0% in the second quarter. Acrospire Investment Management LLC now owns 34,852 shares of the company’s stock worth $186,000 after buying an additional 6,055 shares during the last quarter. Hancock Holding Co. acquired a new stake in MeetMe during the second quarter worth approximately $142,000. Quantitative Systematic Strategies LLC acquired a new stake in MeetMe during the second quarter worth approximately $160,000. Finally, State Street Corp acquired a new stake in MeetMe during the first quarter worth approximately $120,000. Institutional investors own 46.42% of the company’s stock.

Shares of MeetMe Inc. (NASDAQ:MEET) opened at 5.48 on Thursday. The stock’s 50 day moving average is $5.78 and its 200-day moving average is $4.91. MeetMe Inc. has a one year low of $1.97 and a one year high of $8.11. The firm has a market cap of $287.61 million, a P/E ratio of 7.99 and a beta of 1.62.

MeetMe (NASDAQ:MEET) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.04. The firm had revenue of $16.40 million for the quarter, compared to analyst estimates of $15.27 million. MeetMe had a net margin of 56.35% and a return on equity of 15.75%. The company’s revenue for the quarter was up 47.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. Analysts anticipate that MeetMe Inc. will post $0.43 EPS for the current fiscal year.

A number of research firms have commented on MEET. Roth Capital reiterated a “buy” rating on shares of MeetMe in a report on Saturday, October 1st. Loop Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of MeetMe in a report on Wednesday, October 5th. JMP Securities reiterated a “buy” rating on shares of MeetMe in a report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded shares of MeetMe from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Thursday, October 6th. Seven research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $6.50.

In related news, CRO William Alena sold 458,626 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $7.07, for a total transaction of $3,242,485.82. Following the transaction, the executive now owns 255,805 shares of the company’s stock, valued at $1,808,541.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Spencer Garrett Rhodes sold 70,182 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $7.35, for a total transaction of $515,837.70. Following the transaction, the director now directly owns 37,145 shares in the company, valued at approximately $273,015.75. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.

About MeetMe

MeetMe, Inc is a social media technology company that owns and operates the MeetMe mobile applications and meetme.com. The Company is a location-based social network for meeting new people both on the Web and on mobile platforms, including on iPhone, Android, iPad and other tablets that facilitate interactions among users.

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