Zacks: Analysts Anticipate Meet Group Inc (MEET) Will Announce Quarterly Sales of $48.50 Million

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Equities research analysts predict that Meet Group Inc (NASDAQ:MEET) will announce sales of $48.50 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Meet Group’s earnings, with estimates ranging from $48.20 million to $48.80 million. Meet Group reported sales of $40.12 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.9%. The company is scheduled to report its next earnings report on Wednesday, March 6th.

According to Zacks, analysts expect that Meet Group will report full-year sales of $174.60 million for the current fiscal year, with estimates ranging from $174.30 million to $174.90 million. For the next financial year, analysts expect that the company will post sales of $191.95 million, with estimates ranging from $184.40 million to $199.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Meet Group.

Meet Group (NASDAQ:MEET) last announced its quarterly earnings data on Wednesday, November 7th. The information services provider reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $45.72 million for the quarter, compared to analyst estimates of $43.85 million. Meet Group had a negative net margin of 42.63% and a positive return on equity of 10.15%.

Several analysts have commented on MEET shares. BidaskClub raised shares of Meet Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. ValuEngine lowered shares of Meet Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 18th. Canaccord Genuity set a $6.00 price objective on shares of Meet Group and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Finally, TheStreet raised shares of Meet Group from a “d+” rating to a “c-” rating in a research report on Monday, August 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $4.17.

In related news, Director Spencer Garrett Rhodes acquired 11,985 shares of the stock in a transaction on Monday, November 12th. The shares were acquired at an average price of $3.77 per share, with a total value of $45,183.45. Following the completion of the transaction, the director now owns 80,466 shares in the company, valued at approximately $303,356.82. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Luxor Capital Group, Lp acquired 757,808 shares of the stock in a transaction on Friday, October 26th. The stock was bought at an average cost of $4.28 per share, for a total transaction of $3,243,418.24. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,431,533 shares of company stock worth $6,440,183. Insiders own 6.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Meet Group by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 6,136,234 shares of the information services provider’s stock valued at $30,374,000 after purchasing an additional 117,429 shares during the period. BlackRock Inc. raised its position in shares of Meet Group by 3.1% in the third quarter. BlackRock Inc. now owns 4,971,969 shares of the information services provider’s stock valued at $24,612,000 after purchasing an additional 147,993 shares during the period. Vanguard Group Inc. raised its position in shares of Meet Group by 1.0% in the third quarter. Vanguard Group Inc. now owns 3,493,459 shares of the information services provider’s stock valued at $17,293,000 after purchasing an additional 34,128 shares during the period. Millennium Management LLC raised its position in shares of Meet Group by 74.2% in the second quarter. Millennium Management LLC now owns 1,332,693 shares of the information services provider’s stock valued at $5,970,000 after purchasing an additional 567,518 shares during the period. Finally, Intrinsic Edge Capital Management LLC raised its position in shares of Meet Group by 142.7% in the second quarter. Intrinsic Edge Capital Management LLC now owns 1,105,416 shares of the information services provider’s stock valued at $4,952,000 after purchasing an additional 650,000 shares during the period. 56.23% of the stock is currently owned by institutional investors.

Shares of MEET stock opened at $4.01 on Friday. The stock has a market capitalization of $296.51 million, a price-to-earnings ratio of 12.94, a P/E/G ratio of 0.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.14. Meet Group has a 52 week low of $1.84 and a 52 week high of $5.63.

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: Leveraged Buyout (LBO)

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