Meet Group (NASDAQ:MEET) Cut to Hold at Canaccord Genuity

Canaccord Genuity downgraded shares of Meet Group (NASDAQ:MEET) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, The Fly reports.

A number of other research firms have also recently issued reports on MEET. BidaskClub upgraded shares of Meet Group from a strong sell rating to a sell rating in a research note on Saturday, October 5th. Roth Capital set a $8.00 price objective on shares of Meet Group and gave the stock a buy rating in a research note on Sunday, July 21st. Aegis restated a buy rating and issued a $6.50 price objective on shares of Meet Group in a research note on Sunday, October 6th. ValuEngine upgraded shares of Meet Group from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Meet Group from a hold rating to a buy rating and set a $3.75 price objective for the company in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Meet Group has an average rating of Hold and a consensus target price of $6.61.

NASDAQ MEET opened at $4.68 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $342.40 million, a PE ratio of 19.50, a price-to-earnings-growth ratio of 0.53 and a beta of 1.50. The company has a 50 day moving average price of $4.10 and a two-hundred day moving average price of $3.90. Meet Group has a 12-month low of $3.05 and a 12-month high of $6.27.

Several institutional investors have recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new position in Meet Group during the 2nd quarter valued at $35,000. Meritage Portfolio Management acquired a new position in Meet Group during the 2nd quarter valued at $38,000. Meeder Asset Management Inc. raised its stake in Meet Group by 3,841.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,332 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 14,943 shares during the last quarter. Jane Street Group LLC acquired a new position in Meet Group during the 2nd quarter valued at $58,000. Finally, Schroder Investment Management Group acquired a new position in Meet Group during the 2nd quarter valued at $67,000. Institutional investors and hedge funds own 67.95% of the company’s stock.

Meet Group Company 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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Analyst Recommendations for Meet Group (NASDAQ:MEET)

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