First Trust Advisors LP Lowers Holdings in Momo Inc (MOMO)

First Trust Advisors LP decreased its position in shares of Momo Inc (NASDAQ:MOMO) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,064 shares of the information services provider’s stock after selling 2,255 shares during the quarter. First Trust Advisors LP owned about 0.05% of Momo worth $2,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOMO. Rational Advisors LLC increased its holdings in shares of Momo by 108.7% during the third quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock valued at $150,000 after acquiring an additional 2,500 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Momo by 213.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the information services provider’s stock valued at $184,000 after buying an additional 5,125 shares during the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of Momo during the fourth quarter valued at approximately $237,000. Caxton Associates LP purchased a new position in shares of Momo during the third quarter valued at approximately $254,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Momo by 22.1% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,871 shares of the information services provider’s stock valued at $282,000 after buying an additional 1,971 shares during the last quarter. Hedge funds and other institutional investors own 38.33% of the company’s stock.

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MOMO has been the topic of several analyst reports. TheStreet raised Momo from a “c+” rating to a “b-” rating in a research report on Monday, December 11th. UBS initiated coverage on Momo in a research report on Tuesday, January 2nd. They set a “hold” rating and a $28.00 target price on the stock. Zacks Investment Research cut Momo from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BidaskClub raised Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $45.00 target price on shares of Momo in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $43.33.

MOMO stock traded down $0.67 during midday trading on Friday, hitting $36.40. The company’s stock had a trading volume of 2,074,658 shares, compared to its average volume of 4,551,756. Momo Inc has a 1 year low of $22.49 and a 1 year high of $46.69. The stock has a market cap of $7,251.35, a P/E ratio of 23.79 and a beta of 1.55.

Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Wednesday, March 7th. The information services provider reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.11. Momo had a return on equity of 36.58% and a net margin of 24.17%. The business had revenue of $386.40 million for the quarter, compared to analysts’ expectations of $381.17 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up 57.0% on a year-over-year basis. equities research analysts forecast that Momo Inc will post 1.94 earnings per share for the current year.

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Momo Company Profile

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.

Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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