Meet Group Inc (MEET) Major Shareholder Luxor Capital Group, Lp Acquires 757,808 Shares

Meet Group Inc (NASDAQ:MEET) major shareholder Luxor Capital Group, Lp purchased 757,808 shares of the stock in a transaction on Friday, October 26th. The shares were purchased at an average price of $4.28 per share, with a total value of $3,243,418.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Friday, October 19th, Luxor Capital Group, Lp purchased 155,229 shares of Meet Group stock. The shares were purchased at an average price 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 price 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 price 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 price of $5.27 per share, with a total value of $1,304,678.09.

NASDAQ:MEET opened at $4.12 on Friday. The firm has a market capitalization of $313.06 million, a PE ratio of 13.29, a P/E/G ratio of 1.07 and a beta of 1.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.15 and a quick ratio of 1.15. Meet Group Inc has a twelve month low of $1.84 and a twelve month high of $5.63.



Meet Group (NASDAQ:MEET) last released its quarterly earnings data on Wednesday, August 1st. The information services provider reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $42.80 million during the quarter, compared to analyst estimates of $38.25 million. Meet Group had a negative net margin of 45.79% and a positive return on equity of 10.24%. Analysts forecast that Meet Group Inc will post 0.2 EPS for the current fiscal year.

Several analysts have recently weighed in on MEET shares. ValuEngine upgraded shares of Meet Group from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Zacks Investment Research lowered shares of Meet Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. BidaskClub lowered shares of Meet Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 10th. Canaccord Genuity upgraded shares of Meet Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.00 to $6.00 in a research note on Thursday, July 19th. Finally, TheStreet upgraded shares of 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 issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $4.63.

A number of hedge funds have recently made changes to their positions in MEET. Metropolitan Life Insurance Co. NY bought a new stake in Meet Group during the 2nd quarter valued at $109,000. JPMorgan Chase & Co. increased its stake in Meet Group by 167.5% during the 1st quarter. JPMorgan Chase & Co. now owns 60,170 shares of the information services provider’s stock valued at $126,000 after purchasing an additional 37,677 shares in the last quarter. Bank of Montreal Can increased its stake in Meet Group by 316.6% during the 3rd 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. MetLife Investment Advisors LLC bought a new stake in Meet Group during the 2nd quarter valued at $155,000. Finally, New Jersey Better Educational Savings Trust bought a new stake in Meet Group during the 3rd quarter valued at $198,000. Institutional investors and hedge funds own 51.76% of the company’s stock.

Meet Group Company Profile

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.

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

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