Harbour Capital Advisors LLC increased its position in shares of Momo Inc. (NASDAQ:MOMO) by 67.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,700 shares of the information services provider’s stock after purchasing an additional 4,300 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Momo were worth $335,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the business. BT Investment Management Ltd increased its position in Momo by 661.7% during the third quarter. BT Investment Management Ltd now owns 7,611,160 shares of the information services provider’s stock worth $238,534,000 after buying an additional 6,611,904 shares in the last quarter. Light Street Capital Management LLC increased its position in Momo by 23.1% during the second quarter. Light Street Capital Management LLC now owns 4,800,000 shares of the information services provider’s stock worth $177,408,000 after buying an additional 900,000 shares in the last quarter. Acadian Asset Management LLC increased its position in Momo by 113.3% during the second quarter. Acadian Asset Management LLC now owns 4,264,640 shares of the information services provider’s stock worth $157,624,000 after buying an additional 2,265,665 shares in the last quarter. BlackRock Inc. grew its position in shares of Momo by 2,664.8% in the second quarter. BlackRock Inc. now owns 3,580,416 shares of the information services provider’s stock valued at $132,331,000 after purchasing an additional 3,450,915 shares during the period. Finally, Greenwoods Asset Management Ltd grew its position in shares of Momo by 2,615.2% in the second quarter. Greenwoods Asset Management Ltd now owns 1,982,125 shares of the information services provider’s stock valued at $73,259,000 after purchasing an additional 1,909,125 shares during the period. 40.60% of the stock is owned by institutional investors.
A number of brokerages have recently commented on MOMO. J P Morgan Chase & Co lowered their price objective on Momo to $30.00 in a research report on Wednesday, November 29th. Deutsche Bank set a $43.00 target price on Momo and gave the company a “buy” rating in a report on Tuesday, November 28th. Benchmark reduced their target price on Momo from $48.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, November 29th. Zacks Investment Research cut Momo from a “buy” rating to a “hold” rating in a report on Saturday, October 28th. Finally, Jefferies Group reiterated a “buy” rating and issued a $54.00 target price on shares of Momo in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $41.23.
Momo Inc. (NASDAQ:MOMO) traded up $0.36 during trading hours on Thursday, hitting $23.80. The stock had a trading volume of 3,600,653 shares, compared to its average volume of 5,480,602. The company has a market capitalization of $4,770.00 and a price-to-earnings ratio of 16.11. Momo Inc. has a 52 week low of $16.73 and a 52 week high of $46.69.
Momo (NASDAQ:MOMO) last posted its earnings results on Tuesday, November 28th. The information services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. Momo had a return on equity of 39.60% and a net margin of 25.88%. The company had revenue of $354.10 million during the quarter, compared to analyst estimates of $342.48 million. The firm’s revenue for the quarter was up 125.5% compared to the same quarter last year. equities 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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