Schroder Investment Management Group acquired a new stake in shares of Meet Group Inc (NASDAQ:MEET) in the second quarter, HoldingsChannel.com reports. The firm acquired 19,300 shares of the information services provider’s stock, valued at approximately $67,000.
A number of other hedge funds have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale purchased a new stake in shares of Meet Group during the second quarter valued at about $35,000. Meritage Portfolio Management acquired a new stake in Meet Group in the 2nd quarter worth about $38,000. SG Americas Securities LLC purchased a new stake in Meet Group in the 1st quarter valued at about $71,000. BNP Paribas Arbitrage SA grew its holdings in Meet Group by 466.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 14,684 shares of the information services provider’s stock valued at $74,000 after buying an additional 12,093 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in shares of Meet Group by 3,841.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,332 shares of the information services provider’s stock valued at $54,000 after acquiring an additional 14,943 shares during the last quarter. 69.07% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on MEET. Zacks Investment Research lowered shares of Meet Group from a “buy” rating to a “hold” rating in a report on Friday, July 26th. ValuEngine cut shares of Meet Group from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. Roth Capital set a $8.00 target price on Meet Group and gave the company a “buy” rating in a research note on Sunday, July 21st. BidaskClub lowered Meet Group from a “sell” rating to a “strong sell” rating in a report on Thursday, September 5th. Finally, Aegis reiterated a “buy” rating and set a $6.25 price target on shares of Meet Group in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.71.
Meet Group (NASDAQ:MEET) last issued its earnings results on Wednesday, July 31st. The information services provider reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. The firm had revenue of $52.00 million during the quarter, compared to analysts’ expectations of $50.67 million. Meet Group had a net margin of 4.53% and a return on equity of 11.30%. On average, equities analysts forecast that Meet Group Inc will post 0.34 earnings per share for the current year.
Meet Group Company Profile
The Meet Group, Inc operates a portfolio of mobile social entertainment applications to meet the need for human connection worldwide. The company leverages a live-streaming video platform, empowering community to forge meaningful connections. The company's primary applications include, MeetMe, LOVOO, Skout, Tagged, and Growlr, which keeps mobile daily active users, entertained and engaged, and originate numbers of casual chats, friendships, dates, and marriages.
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