MeetMe Inc (MEET): Bullish Smart Money Positions Have Doubled in Just 2 Quarters

As one would reasonably expect, key hedge funds were breaking ground themselves. Granite Point Capital, led by Warren Lammert, established the largest position in MeetMe Inc (NYSEAMEX:MEET). Granite Point Capital had $1.8 million invested in the company at the end of the quarter. Brian C. Freckmann’s Lyon Street Capital also made a $1.8 million investment in the stock during the quarter. The other funds with brand new MEET positions are John Overdeck and David Siegel’s Two Sigma Advisors, Chuck Royce’s Royce & Associates, and Ken Griffin’s Citadel Investment Group.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as MeetMe Inc (NYSEAMEX:MEET) but similarly valued. These stocks are BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX), Tangoe Inc (NASDAQ:TNGO), Permian Basin Royalty Trust (NYSE:PBT), and Syros Pharmaceuticals Inc (NASDAQ:SYRS). This group of stocks’ market caps resemble MEET’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was also $54 million in MEET’s case. BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) is the most popular stock in this table. On the other hand Syros Pharmaceuticals Inc (NASDAQ:SYRS) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks MeetMe Inc (NYSEAMEX:MEET) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers and growing fonder by the quarter, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None