MeetMe Inc. (NASDAQ:MEET) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 8,807,553 shares, a decrease of 18.6% from the October 31st total of 10,813,554 shares. Based on an average trading volume of 2,297,931 shares, the short-interest ratio is currently 3.8 days. Approximately 17.0% of the company’s shares are short sold.
A number of research firms recently issued reports on MEET. Roth Capital reissued a “buy” rating on shares of MeetMe in a research report on Saturday, October 1st. Loop Capital began coverage on shares of MeetMe in a research report on Thursday, August 25th. They set a “buy” rating for the company. Finally, Zacks Investment Research raised shares of MeetMe from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Thursday, October 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $7.15.
Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of MeetMe during the third quarter worth approximately $868,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of MeetMe during the third quarter worth approximately $1,007,000. Mackenzie Financial Corp acquired a new stake in shares of MeetMe during the third quarter worth approximately $2,784,000. Gotham Asset Management LLC raised its stake in shares of MeetMe by 258.2% in the third quarter. Gotham Asset Management LLC now owns 77,652 shares of the company’s stock worth $481,000 after buying an additional 55,971 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of MeetMe during the third quarter worth approximately $182,000. Hedge funds and other institutional investors own 48.52% of the company’s stock.
Shares of MeetMe (NASDAQ:MEET) opened at 4.88 on Monday. The firm has a 50-day moving average of $5.13 and a 200 day moving average of $5.34. The firm has a market cap of $287.25 million, a P/E ratio of 6.63 and a beta of 1.32. MeetMe has a 12 month low of $2.50 and a 12 month high of $8.11.
MeetMe (NASDAQ:MEET) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.10. The firm had revenue of $17.20 million for the quarter, compared to analysts’ expectations of $17.24 million. MeetMe had a return on equity of 15.13% and a net margin of 63.55%. MeetMe’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. On average, equities research analysts anticipate that MeetMe will post $0.42 EPS for the current fiscal year.
MeetMe Company Profile