New Jersey Better Educational Savings Trust Invests $198,000 in Meet Group Inc (MEET)

New Jersey Better Educational Savings Trust purchased a new stake in Meet Group Inc (NASDAQ:MEET) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 40,000 shares of the information services provider’s stock, valued at approximately $198,000. New Jersey Better Educational Savings Trust owned 0.05% of Meet Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MEET. Wells Fargo & Company MN raised its stake 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 purchasing an additional 44,624 shares during the period. Northern Trust Corp raised its stake in shares of Meet Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 742,190 shares of the information services provider’s stock valued at $1,552,000 after purchasing an additional 26,067 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Meet Group by 167.5% in the 1st quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock valued at $126,000 after purchasing an additional 37,677 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Meet Group by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,998,792 shares of the information services provider’s stock valued at $12,537,000 after purchasing an additional 328,995 shares during the period. Finally, GSA Capital Partners LLP raised its stake in shares of Meet Group by 285.7% in the 1st quarter. GSA Capital Partners LLP now owns 337,500 shares of the information services provider’s stock valued at $705,000 after purchasing an additional 250,000 shares during the period. 51.64% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:MEET opened at $4.85 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $362.06 million, a P/E ratio of 15.65, a P/E/G ratio of 1.27 and a beta of 1.60. Meet Group Inc has a 52-week low of $1.84 and a 52-week high of $5.63.

Meet Group (NASDAQ:MEET) last released its earnings results on Wednesday, August 1st. The information services provider reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $42.80 million for the quarter, compared to the consensus estimate of $38.25 million. Meet Group had a positive return on equity of 10.24% and a negative net margin of 45.79%. On average, analysts anticipate that Meet Group Inc will post 0.2 earnings per share for the current year.

Several analysts have issued reports on MEET shares. BidaskClub raised Meet Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 5th. Zacks Investment Research downgraded Meet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. ValuEngine raised Meet Group from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. TheStreet raised Meet Group from a “d+” rating to a “c-” rating in a research note on Monday, August 27th. Finally, Canaccord Genuity set a $6.00 price target on Meet Group and gave the company a “buy” rating in a research note on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $4.63.

In related news, major shareholder Luxor Capital Group, Lp bought 87,415 shares of the stock in a transaction that occurred on Friday, October 12th. The shares were acquired at an average price of $4.72 per share, with a total value of $412,598.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is currently owned by insiders.

Meet Group 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.

Further Reading: Average Daily Trade Volume – What You Need to Know

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Institutional Ownership by Quarter for Meet Group (NASDAQ:MEET)

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