Harvest Capital Strategies Lowers stake in MeetMe Inc (MEET)

MeetMe Inc (MEET) : Harvest Capital Strategies reduced its stake in MeetMe Inc by 31.25% during the most recent quarter end. The investment management company now holds a total of 2,750,000 shares of MeetMe Inc which is valued at $20,185,000 after selling 1,250,000 shares in MeetMe Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.MeetMe Inc makes up approximately 3.33% of Harvest Capital Strategies’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan reduced its stake in MEET by selling 53,700 shares or 37.47% in the most recent quarter. The Hedge Fund company now holds 89,610 shares of MEET which is valued at $657,737. MeetMe Inc makes up approx 0.03% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Citadel Advisors reduced its stake in MEET by selling 32,784 shares or 11.49% in the most recent quarter. The Hedge Fund company now holds 252,503 shares of MEET which is valued at $1,853,372. Tiaa Cref Investment Management added MEET to its portfolio by purchasing 146,931 company shares during the most recent quarter which is valued at $1,078,474.Eam Investors reduced its stake in MEET by selling 256,247 shares or 30.82% in the most recent quarter. The Hedge Fund company now holds 575,076 shares of MEET which is valued at $4,255,562. MeetMe Inc makes up approx 0.60% of Eam Investors’s portfolio.

MeetMe Inc opened for trading at $5.73 and hit $5.9 on the upside on Thursday, eventually ending the session at $5.87, with a gain of 1.91% or 0.11 points. The heightened volatility saw the trading volume jump to 22,52,551 shares. Company has a market cap of $308 M.

On the company’s financial health, MeetMe Inc reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.06. The company had revenue of $16.39 million for the quarter, compared to analysts expectations of $15.27 million. The company’s revenue was up 47.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Many Wall Street Analysts have commented on MeetMe Inc. MeetMe Inc was Initiated by Loop Capital to “Buy” on Aug 26, 2016.

MeetMe Inc. is a location-based social network for meeting new people both on the Web and on mobile platforms including on iPhone Android iPad and other tablets that facilitate interactions among users. The Company is a social media technology company that owns and operates MeetMe.com. The Company monetizes through advertising in-app purchases and paid subscriptions. The Company provides users with access to a menu of resources that promote social interaction information sharing and other topics of interest to users. The Company had approximately 4.98 million monthly active users (MAUs). The Company offers online marketing capabilities which enable marketers to display their advertisements in different formats and in different locations. The Company works with its advertisers to maximize the effectiveness of their campaigns by optimizing advertisement formats and placement.

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