Schwab Charles Investment Management Inc. increased its holdings in shares of Meet Group Inc (NASDAQ:MEET) by 17.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 142,044 shares of the information services provider’s stock after purchasing an additional 20,844 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.19% of Meet Group worth $637,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of MEET. Northern Trust Corp grew its stake in shares of Meet Group by 3.6% during the 1st quarter. Northern Trust Corp now owns 742,190 shares of the information services provider’s stock worth $1,552,000 after acquiring an additional 26,067 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Meet Group by 167.5% during the 1st quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock worth $126,000 after acquiring an additional 37,677 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Meet Group by 18.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 283,011 shares of the information services provider’s stock worth $1,267,000 after acquiring an additional 43,162 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Meet Group by 40.2% in the 1st quarter. Wells Fargo & Company MN now owns 155,670 shares of the information services provider’s stock valued at $325,000 after buying an additional 44,624 shares during the last quarter. Finally, Parallel Advisors LLC acquired a new stake in shares of Meet Group in the 2nd quarter valued at approximately $224,000. 51.67% of the stock is owned by institutional investors and hedge funds.
Meet Group stock traded down $0.21 during mid-day trading on Friday, hitting $3.86. 1,511,253 shares of the company’s stock traded hands, compared to its average volume of 901,220. Meet Group Inc has a fifty-two week low of $1.84 and a fifty-two week high of $5.63. The company has a market capitalization of $310.50 million, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.06 and a beta of 1.53. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.15 and a quick ratio of 1.15.
Meet Group (NASDAQ:MEET) last announced its quarterly earnings results on Wednesday, November 7th. The information services provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. Meet Group had a positive return on equity of 10.22% and a negative net margin of 42.63%. The business had revenue of $45.72 million during the quarter, compared to the consensus estimate of $43.85 million. As a group, equities analysts anticipate that Meet Group Inc will post 0.2 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on the company. BidaskClub downgraded Meet Group from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. TheStreet raised Meet Group from a “d+” rating to a “c-” rating in a report on Monday, August 27th. ValuEngine downgraded Meet Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Canaccord Genuity set a $6.00 price objective on Meet Group and gave the company a “buy” rating in a report on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Meet Group currently has an average rating of “Hold” and a consensus target price of $4.17.
In other news, major shareholder Luxor Capital Group, Lp acquired 87,415 shares of the stock in a transaction on Friday, October 12th. The shares were purchased at an average price of $4.72 per share, for a total transaction of $412,598.80. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have acquired a total of 1,419,548 shares of company stock worth $6,395,000 in the last quarter. Company insiders own 6.10% of the company’s stock.
Meet Group Company Profile
The Meet Group, Inc operates various mobile social entertainment applications. Its applications are designed to meet the universal need for human connection. The company leverages a powerful live-streaming video platform, empowering global community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, and Tagged, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.
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