38,100 Shares in Momo Inc. (MOMO) Purchased by Teachers Advisors LLC
Teachers Advisors LLC purchased a new stake in shares of Momo Inc. (NASDAQ:MOMO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 38,100 shares of the information services provider’s stock, valued at approximately $1,408,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MOMO. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Momo during the 2nd quarter worth approximately $155,000. Alta Advisers Ltd purchased a new position in shares of Momo during the 2nd quarter worth approximately $156,000. Bfsg LLC purchased a new position in shares of Momo during the 2nd quarter worth approximately $203,000. Teacher Retirement System of Texas purchased a new position in shares of Momo during the 2nd quarter worth approximately $259,000. Finally, HighTower Advisors LLC purchased a new position in shares of Momo during the 1st quarter worth approximately $276,000. 39.48% of the stock is owned by institutional investors and hedge funds.
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A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet upgraded Momo from a “c+” rating to a “b” rating in a report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and set a $54.00 target price on shares of Momo in a report on Wednesday, August 16th. BidaskClub upgraded Momo from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Finally, Vetr downgraded Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 target price on the stock. in a report on Monday, September 4th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Momo has an average rating of “Buy” and a consensus price target of $41.39.
Momo Inc. (MOMO) opened at 29.43 on Friday. Momo Inc. has a 12-month low of $16.73 and a 12-month high of $46.69. The company has a market capitalization of $5.81 billion, a PE ratio of 23.08 and a beta of 1.82. The stock’s 50 day moving average price is $33.43 and its 200 day moving average price is $38.19.
Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $312.20 million for the quarter, compared to analyst estimates of $287.84 million. Momo had a net margin of 27.00% and a return on equity of 38.94%. The firm’s revenue for the quarter was up 31120.0% compared to the same quarter last year. On average, equities analysts anticipate that Momo Inc. will post $1.66 EPS for the current fiscal year.
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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