SG Americas Securities LLC Purchases New Holdings in Meet Group Inc (NASDAQ:MEET)

SG Americas Securities LLC purchased a new position in shares of Meet Group Inc (NASDAQ:MEET) in the first quarter, HoldingsChannel.com reports. The fund purchased 14,022 shares of the information services provider’s stock, valued at approximately $71,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MEET. BlackRock Inc. increased its holdings in shares of Meet Group by 11.1% during the 4th quarter. BlackRock Inc. now owns 5,524,371 shares of the information services provider’s stock worth $25,578,000 after buying an additional 552,402 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Meet Group by 1,767.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 487,855 shares of the information services provider’s stock worth $2,415,000 after buying an additional 461,736 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Meet Group by 38.6% during the 4th quarter. Geode Capital Management LLC now owns 1,032,381 shares of the information services provider’s stock worth $4,779,000 after buying an additional 287,650 shares during the last quarter. Alambic Investment Management L.P. increased its holdings in shares of Meet Group by 407.0% during the 4th quarter. Alambic Investment Management L.P. now owns 188,843 shares of the information services provider’s stock worth $874,000 after buying an additional 151,595 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Meet Group during the 4th quarter worth approximately $619,000. Institutional investors and hedge funds own 67.03% of the company’s stock.

NASDAQ:MEET opened at $3.40 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $268.89 million, a P/E ratio of 14.17, a P/E/G ratio of 0.52 and a beta of 1.76. Meet Group Inc has a fifty-two week low of $3.33 and a fifty-two week high of $6.27.

Meet Group (NASDAQ:MEET) last posted its quarterly earnings data on Wednesday, May 8th. The information services provider reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.01. The firm had revenue of $49.51 million during the quarter, compared to analysts’ expectations of $47.70 million. Meet Group had a net margin of 3.47% and a return on equity of 10.76%. As a group, equities analysts forecast that Meet Group Inc will post 0.34 EPS for the current year.

A number of brokerages have recently issued reports on MEET. Zacks Investment Research downgraded shares of Meet Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. BidaskClub cut shares of Meet Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Northland Securities reaffirmed a “buy” rating and set a $7.00 price objective on shares of Meet Group in a research report on Thursday, May 9th. ValuEngine cut shares of Meet Group from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Aegis initiated coverage on shares of Meet Group in a research report on Tuesday, May 14th. They set a “buy” rating and a $6.25 price objective for the company. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.35.

In related news, major shareholder Luxor Capital Group, Lp acquired 125,100 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was purchased at an average price of $5.30 per share, with a total value of $663,030.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Spencer B. Grimes acquired 16,400 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average cost of $4.30 per share, with a total value of $70,520.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 385,700 shares of company stock valued at $1,973,554 in the last ninety days. 6.10% of the stock is currently owned by corporate insiders.

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

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