First Trust Advisors LP trimmed its holdings in Momo Inc (NASDAQ:MOMO) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,064 shares of the information services provider’s stock after selling 2,255 shares during the period. First Trust Advisors LP owned approximately 0.05% of Momo worth $2,547,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Cetera Advisor Networks LLC purchased a new position in Momo in the 4th quarter valued at approximately $237,000. Sei Investments Co. boosted its holdings in Momo by 96.6% in the 4th quarter. Sei Investments Co. now owns 150,922 shares of the information services provider’s stock valued at $3,695,000 after purchasing an additional 74,150 shares during the period. Penserra Capital Management LLC boosted its holdings in Momo by 9.3% in the 4th quarter. Penserra Capital Management LLC now owns 313,264 shares of the information services provider’s stock valued at $7,668,000 after purchasing an additional 26,591 shares during the period. California Public Employees Retirement System boosted its holdings in Momo by 54.7% in the 4th quarter. California Public Employees Retirement System now owns 265,880 shares of the information services provider’s stock valued at $6,509,000 after purchasing an additional 93,994 shares during the period. Finally, Icon Advisers Inc. Co. bought a new position in Momo in the 4th quarter valued at $1,180,000. Institutional investors and hedge funds own 38.56% of the company’s stock.
Several brokerages have commented on MOMO. Deutsche Bank set a $46.00 price target on shares of Momo and gave the company a “buy” rating in a report on Wednesday, March 7th. Vetr downgraded shares of Momo from a “strong-buy” rating to a “buy” rating and set a $40.05 price objective for the company. in a report on Thursday, March 8th. BidaskClub raised shares of Momo from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Zacks Investment Research raised shares of Momo from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Finally, Citigroup assumed coverage on shares of Momo in a report on Tuesday, February 20th. They set a “buy” rating and a $40.00 price objective for the company. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Momo presently has a consensus rating of “Buy” and an average target price of $41.70.
Shares of Momo Inc (NASDAQ MOMO) opened at $37.20 on Friday. 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 cap of $7,370.00, a price-to-earnings ratio of 24.31 and a beta of 1.68.
Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Wednesday, March 7th. The information services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. Momo had a net margin of 24.17% and a return on equity of 36.58%. The company had revenue of $386.40 million during the quarter, compared to the consensus estimate of $381.17 million. During the same period in the previous year, the firm posted $0.44 EPS. The firm’s revenue was up 57.0% compared to the same quarter last year. equities analysts predict that Momo Inc will post 1.91 EPS for the current 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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