Aperio Group LLC raised its position in shares of Momo Inc. (NASDAQ:MOMO) by 40.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,831 shares of the information services provider’s stock after purchasing an additional 3,388 shares during the period. Aperio Group LLC’s holdings in Momo were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Momo by 2,664.8% in the 2nd quarter. BlackRock Inc. now owns 3,580,416 shares of the information services provider’s stock worth $132,331,000 after acquiring an additional 3,450,915 shares in the last quarter. Greenwoods Asset Management Ltd raised its position in shares of Momo by 2,615.2% in the 2nd quarter. Greenwoods Asset Management Ltd now owns 1,982,125 shares of the information services provider’s stock worth $73,259,000 after acquiring an additional 1,909,125 shares in the last quarter. State Street Corp raised its position in shares of Momo by 3,342.6% in the 2nd quarter. State Street Corp now owns 1,096,159 shares of the information services provider’s stock worth $40,512,000 after acquiring an additional 1,064,318 shares in the last quarter. BT Investment Management Ltd acquired a new position in Momo during the 2nd quarter valued at about $36,933,000. Finally, Light Street Capital Management LLC increased its position in Momo by 23.1% during the 2nd quarter. Light Street Capital Management LLC now owns 4,800,000 shares of the information services provider’s stock valued at $177,408,000 after buying an additional 900,000 shares in the last quarter. 40.60% of the stock is owned by institutional investors and hedge funds.
MOMO has been the topic of several research analyst reports. Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Standpoint Research started coverage on Momo in a research note on Wednesday, August 30th. They set a “buy” rating and a $44.00 price target on the stock. Vetr upgraded Momo from a “buy” rating to a “strong-buy” rating and set a $42.17 target price on the stock in a research note on Wednesday, September 6th. Benchmark lowered their target price on Momo from $48.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 29th. Finally, J P Morgan Chase & Co lowered their target price on Momo to $30.00 in a research note on Wednesday, November 29th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Momo currently has an average rating of “Buy” and a consensus price target of $41.23.
Shares of Momo Inc. (MOMO) opened at $24.80 on Tuesday. The company has a market capitalization of $4,387.33, a P/E ratio of 15.24 and a beta of 1.55. Momo Inc. has a fifty-two week low of $16.73 and a fifty-two week high of $46.69.
Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, November 28th. The information services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.07. The company had revenue of $354.10 million during the quarter, compared to analyst estimates of $342.48 million. Momo had a return on equity of 39.60% and a net margin of 25.88%. Momo’s revenue was up 125.5% compared to the same quarter last year. research analysts predict that Momo Inc. will post 1.45 earnings per share for the current fiscal year.
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Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company’s Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform.
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