Schwab Charles Investment Management Inc. Buys 34,600 Shares of MeetMe, Inc. (MEET)

Schwab Charles Investment Management Inc. lifted its holdings in MeetMe, Inc. (NASDAQ:MEET) by 53.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 99,000 shares of the information services provider’s stock after buying an additional 34,600 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.14% of MeetMe worth $500,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of MEET. American International Group Inc. lifted its position in MeetMe by 7.1% in the 1st quarter. American International Group Inc. now owns 25,418 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 1,683 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in MeetMe during the 1st quarter valued at about $177,000. Legato Capital Management LLC increased its stake in MeetMe by 894.5% during the 2nd quarter. Legato Capital Management LLC now owns 69,614 shares of the information services provider’s stock valued at $352,000 after buying an additional 62,614 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in MeetMe during the 2nd quarter valued at about $360,000. Finally, Global X Management Co. LLC increased its stake in MeetMe by 65.4% during the 2nd quarter. Global X Management Co. LLC now owns 74,952 shares of the information services provider’s stock valued at $379,000 after buying an additional 29,635 shares during the period. Institutional investors own 56.93% of the company’s stock.

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MeetMe, Inc. (NASDAQ MEET) opened at $2.23 on Tuesday. MeetMe, Inc. has a 52-week low of $2.19 and a 52-week high of $6.45. The stock has a market cap of $164.44, a PE ratio of 6.36, a P/E/G ratio of 0.47 and a beta of 1.05.

MeetMe (NASDAQ:MEET) last announced its quarterly earnings results on Wednesday, November 8th. The information services provider reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. MeetMe had a return on equity of 10.85% and a net margin of 11.90%. The company had revenue of $32.25 million during the quarter, compared to analysts’ expectations of $32.33 million. During the same period in the prior year, the business posted $0.10 EPS. MeetMe’s revenue was up 87.6% on a year-over-year basis. equities research analysts expect that MeetMe, Inc. will post 0.25 earnings per share for the current year.

Several equities analysts have commented on MEET shares. Zacks Investment Research raised shares of MeetMe from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Roth Capital set a $9.00 target price on shares of MeetMe and gave the stock a “buy” rating in a research report on Wednesday, July 19th. BidaskClub cut shares of MeetMe from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, JMP Securities cut shares of MeetMe from an “outperform” rating to a “market perform” rating and set a $6.00 target price for the company. in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.06.

MeetMe Company 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.

Institutional Ownership by Quarter for MeetMe (NASDAQ:MEET)

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