The Manufacturers Life Insurance Company Purchases New Holdings in MeetMe, Inc. (MEET)

The Manufacturers Life Insurance Company purchased a new position in shares of MeetMe, Inc. (NASDAQ:MEET) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 54,398 shares of the information services provider’s stock, valued at approximately $275,000. The Manufacturers Life Insurance Company owned 0.08% of MeetMe as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of MEET. Sterling Investment Advisors Ltd. raised its position in MeetMe by 33.3% during the second quarter. Sterling Investment Advisors Ltd. now owns 20,000 shares of the information services provider’s stock valued at $101,000 after acquiring an additional 5,000 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in MeetMe by 31.8% during the second quarter. Cubist Systematic Strategies LLC now owns 20,022 shares of the information services provider’s stock valued at $101,000 after acquiring an additional 4,827 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in MeetMe by 56.4% during the second quarter. Parametric Portfolio Associates LLC now owns 26,011 shares of the information services provider’s stock valued at $131,000 after acquiring an additional 9,383 shares in the last quarter. Voya Investment Management LLC raised its position in MeetMe by 50.0% during the second quarter. Voya Investment Management LLC now owns 28,570 shares of the information services provider’s stock valued at $144,000 after acquiring an additional 9,528 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in MeetMe during the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 50.87% of the company’s stock.

Several equities analysts recently weighed in on MEET shares. Roth Capital set a $8.00 price objective on shares of MeetMe and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research raised shares of MeetMe from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Canaccord Genuity lowered shares of MeetMe from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a research report on Thursday, November 9th. JMP Securities lowered shares of MeetMe from an “outperform” rating to a “market perform” rating and set a $6.00 price objective on the stock. in a research report on Thursday, November 9th. Finally, BidaskClub lowered shares of MeetMe from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $8.06.

MeetMe, Inc. (MEET) opened at $2.34 on Wednesday. MeetMe, Inc. has a 52-week low of $2.19 and a 52-week high of $6.45. The company has a market cap of $179.51, a P/E ratio of 6.94, a PEG ratio of 0.51 and a beta of 0.91.

MeetMe (NASDAQ:MEET) last released its quarterly earnings results on Wednesday, November 8th. The information services provider reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. MeetMe had a net margin of 11.90% and a return on equity of 10.85%. The company had revenue of $32.25 million for the quarter, compared to analyst estimates of $32.33 million. During the same quarter last year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 87.6% compared to the same quarter last year. equities analysts anticipate that MeetMe, Inc. will post 0.25 earnings per share for the current fiscal year.

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MeetMe Profile

The Meet Group, Inc, formerly MeetMe, Inc, offers a portfolio of mobile applications. The Company operates location-based social networks for meeting new people on mobile platforms, including on iPhone, Android, iPad and other tablets, and on the Web that facilitate interactions among users, and helps users to connect and chat with each other.

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Institutional Ownership by Quarter for MeetMe (NASDAQ:MEET)

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