Reassessing The Changing Outlook For The Meet Group Inc. (MEET)

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    Candriam Belgium SA recently announced the acquisition of new stake in The Meet Group Inc. (NASDAQ:MEET). This fresh investment now brings its stake to 3.73% valued currently at $16.71 million. In addition, Water Island Capital LLC raised its holdings by 2.54 million to 2.54 million shares.

    With over 0.92 million The Meet Group Inc. (MEET) shares trading Friday and a closing price of $6.22 on the day, the dollar volume was approximately $5.71 million. The shares have shown a negative weekly performance of -0.16% and its price on 07/24/20 lost nearly -0.16%. Currently, there are 71.00M common shares owned by the public and among those 66.36M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for MEET have a consensus price objective of $6.30. The analysts have set the share’s price value over the next 12 months at a high of $6.30 and a low of $6.30 should the stock experience a downside. Incidentally, analysts’ outlook for the The Meet Group Inc. stock is 2.40 for the next 12 months. The average price target is 4.89% above its last price level and an upside to the estimated low will see the stock gain 1.27% over that period. But an upside of 1.27% will see the stock hit the forecast high price target while mean target price for the stock is $6.30.

    Insiders at the company have transacted a total of 59 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 22,000 shares. Insider sales of the common stock occurred on 58 occasions, with total insider shares sold totaling 4,954,967 shares.

    The top 3 mutual fund holders in The Meet Group Inc. are Candriam Risk Arbitrage, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Candriam Risk Arbitrage owns 2.3 million shares of the company’s stock, all valued at over $14.38 million. The company bought an additional 2.3 million shares recently to bring their total holdings to about 3.21% of the shares outstanding. iShares Russell 2000 ETF now owns shares totaling to 1.88% of the shares outstanding.

    Shares of The Meet Group Inc. (NASDAQ: MEET) opened at $6.24, up $0.01 from a prior closing price of $6.23. However, the script later closed the day at $6.22, down -0.16%. The company’s stock has a 5-day price change of -0.16% and 0.97% over the past three months. MEET shares are trading 24.35% year to date (YTD), with the 12-month market performance up to 80.58% higher. It has a 12-month low price of $3.07 and touched a high of $7.00 over the same period. Currently, 0.92 million shares have been traded, compared to an average intraday trading volume of 1.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.38%, 0.08%, and 10.61% respectively.

    Institutional ownership of The Meet Group Inc. (NASDAQ: MEET) shares accounts for 89.20% of the company’s 71.00M shares outstanding. Mutual fund holders own 31.55%, while other institutional holders and individual stakeholders account for 54.86% and 23.07% respectively.

    It has a market capitalization of $449.49M and a beta (3y monthly) value of 0.85. The stock’s trailing 12-month PE ratio is 62.93, while the earnings-per-share (ttm) stands at $0.10. The company has a PEG of 2.25 and a Quick Ratio of 1.70 with the debt-to-equity ratio at 0.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.69% over the week and 0.54% over the month.

    Analysts forecast that The Meet Group Inc. (MEET) will achieve an EPS of $0.11 for the current quarter, $0.14 for the next quarter and $0.62 for 2021. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was $0.11 a year ago. Earnings per share for the fiscal year are expected to increase by 874.50%, and 11.71% over the next financial year. EPS should shrink at an annualized rate of 28.00% over the next five years, compared to 28.70% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate The Meet Group Inc. (MEET) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the MEET, a number of firms have released research notes about the stock. Northland Capital stated their Market Perform rating for the stock in a research note on March 09, 2020, with the firm’s price target at. Canaccord Genuity coverage for the The Meet Group Inc. (MEET) stock in a research note released on November 06, 2019 offered a Hold rating with a price target of. Oppenheimer was of a view on June 21, 2019 that the stock is Outperform, while Aegis Capital gave the stock Buy rating on May 15, 2019, issuing a price target of $6.25. ROTH Capital on their part issued Buy rating on March 08, 2018.

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