KEYWISE CAPITAL MANAGEMENT Ltd raised its position in shares of Momo Inc (NASDAQ:MOMO) by 565.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,286,800 shares of the information services provider’s stock after acquiring an additional 1,093,300 shares during the quarter. Momo makes up approximately 12.5% of KEYWISE CAPITAL MANAGEMENT Ltd’s holdings, making the stock its 4th largest position. KEYWISE CAPITAL MANAGEMENT Ltd owned 0.65% of Momo worth $31,501,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Momo in the 2nd quarter worth approximately $101,000. D.A. Davidson & CO. purchased a new position in Momo in the 2nd quarter worth approximately $136,000. Rational Advisors LLC raised its holdings in Momo by 108.7% in the 3rd quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock worth $150,000 after acquiring an additional 2,500 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Momo by 213.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the information services provider’s stock worth $184,000 after acquiring an additional 5,125 shares during the last quarter. Finally, Exane Derivatives purchased a new stake in Momo during the 3rd quarter valued at $194,000. 40.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Momo Inc (NASDAQ:MOMO) traded down $0.03 during trading hours on Wednesday, hitting $28.29. 4,228,400 shares of the stock were exchanged, compared to its average volume of 5,339,519. Momo Inc has a fifty-two week low of $22.49 and a fifty-two week high of $46.69. The stock has a market capitalization of $6,000.00, a price-to-earnings ratio of 20.55 and a beta of 1.79.
Momo (NASDAQ:MOMO) last announced its earnings results on Tuesday, November 28th. The information services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. Momo had a net margin of 25.88% and a return on equity of 39.60%. The company had revenue of $354.10 million during the quarter, compared to the consensus estimate of $342.48 million. Momo’s revenue for the quarter was up 125.5% on a year-over-year basis. equities research analysts forecast that Momo Inc will post 1.47 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on MOMO shares. JPMorgan Chase & Co. decreased their target price on shares of Momo to $30.00 in a research note on Wednesday, November 29th. TheStreet upgraded Momo from a “c+” rating to a “b-” rating in a research note on Monday, December 11th. Jefferies Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of Momo in a report on Wednesday, January 24th. Zacks Investment Research raised shares of Momo from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, October 25th. Finally, Benchmark dropped their price objective on shares of Momo from $48.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $41.09.
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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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