Meet Group Inc (MEET) Major Shareholder Acquires $3,243,418.24 in Stock

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Meet Group Inc (NASDAQ:MEET) major shareholder Luxor Capital Group, Lp acquired 757,808 shares of the firm’s stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $4.28 per share, with a total value of $3,243,418.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Luxor Capital Group, Lp also recently made the following trade(s):

  • On Friday, October 19th, Luxor Capital Group, Lp acquired 155,229 shares of Meet Group stock. The stock was bought at an average cost of $4.40 per share, with a total value of $683,007.60.
  • On Tuesday, October 23rd, Luxor Capital Group, Lp acquired 171,529 shares of Meet Group stock. The stock was bought at an average cost of $4.38 per share, with a total value of $751,297.02.
  • On Friday, October 12th, Luxor Capital Group, Lp acquired 87,415 shares of Meet Group stock. The stock was bought at an average cost of $4.72 per share, with a total value of $412,598.80.
  • On Friday, October 5th, Luxor Capital Group, Lp acquired 247,567 shares of Meet Group stock. The stock was bought at an average cost of $5.27 per share, with a total value of $1,304,678.09.

NASDAQ:MEET traded down $0.21 during trading hours on Friday, hitting $3.86. 1,511,253 shares of the stock were exchanged, compared to its average volume of 901,220. Meet Group Inc has a 52-week low of $1.84 and a 52-week high of $5.63. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. The firm has a market cap of $310.50 million, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.53.

Meet Group (NASDAQ:MEET) last posted its quarterly earnings data on Wednesday, November 7th. The information services provider reported $0.07 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $45.72 million during the quarter, compared to analyst estimates of $43.85 million. On average, research analysts forecast that Meet Group Inc will post 0.2 earnings per share for the current year.

Several brokerages recently weighed in on MEET. ValuEngine lowered Meet Group from a “buy” rating to a “hold” rating in a research note on Saturday. BidaskClub upgraded Meet Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Canaccord Genuity upgraded Meet Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $3.00 to $6.00 in a research note on Thursday, July 19th. Finally, TheStreet upgraded Meet Group from a “d+” rating to a “c-” rating in a research note on Monday, August 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $4.17.

A number of large investors have recently bought and sold shares of the business. Northern Trust Corp grew its position in shares of Meet Group by 1.7% in the second quarter. Northern Trust Corp now owns 754,655 shares of the information services provider’s stock valued at $3,380,000 after purchasing an additional 12,465 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Meet Group by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 6,018,805 shares of the information services provider’s stock valued at $26,964,000 after purchasing an additional 20,013 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Meet Group by 17.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 142,044 shares of the information services provider’s stock valued at $637,000 after purchasing an additional 20,844 shares in the last quarter. Bank of Montreal Can grew its position in shares of Meet Group by 316.6% in the third quarter. Bank of Montreal Can now owns 27,547 shares of the information services provider’s stock valued at $135,000 after purchasing an additional 20,935 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Meet Group in the third quarter valued at approximately $108,000. Institutional investors own 51.67% of the company’s stock.

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About Meet Group

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: Return on Investment (ROI)

Insider Buying and Selling by Quarter for Meet Group (NASDAQ:MEET)

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