Advisors Asset Management Inc. raised its holdings in shares of Momo Inc (NASDAQ:MOMO) by 55.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,014 shares of the information services provider’s stock after purchasing an additional 720 shares during the period. Advisors Asset Management Inc.’s holdings in Momo were worth $77,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MOMO. FMR LLC raised its position in Momo by 2,062.6% during the 4th quarter. FMR LLC now owns 8,898,659 shares of the information services provider’s stock valued at $211,343,000 after purchasing an additional 8,487,177 shares during the last quarter. BlackRock Inc. raised its position in Momo by 98.2% during the 1st quarter. BlackRock Inc. now owns 14,872,158 shares of the information services provider’s stock valued at $568,712,000 after purchasing an additional 7,367,585 shares during the last quarter. Genesis Asset Managers LLP bought a new position in Momo during the 1st quarter valued at approximately $202,195,000. Platinum Investment Management Ltd. raised its position in Momo by 750.6% during the 1st quarter. Platinum Investment Management Ltd. now owns 2,540,466 shares of the information services provider’s stock valued at $97,147,000 after purchasing an additional 2,241,781 shares during the last quarter. Finally, Prime Capital Management Co Ltd raised its position in Momo by 56.3% during the 1st quarter. Prime Capital Management Co Ltd now owns 5,130,468 shares of the information services provider’s stock valued at $196,189,000 after purchasing an additional 1,848,410 shares during the last quarter. 58.39% of the stock is owned by institutional investors and hedge funds.

MOMO has been the subject of a number of recent analyst reports. Zacks Investment Research raised Momo from a “sell” rating to a “hold” rating in a research report on Wednesday, February 6th. BidaskClub lowered Momo from a “buy” rating to a “hold” rating in a research report on Saturday, February 9th. Morgan Stanley raised Momo from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $33.00 to $44.00 in a research report on Wednesday, March 13th. Nomura upped their price target on Momo from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, ValuEngine lowered Momo from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.63.

Shares of NASDAQ:MOMO opened at $27.49 on Tuesday. Momo Inc has a 52-week low of $22.85 and a 52-week high of $54.24. The company has a market capitalization of $5.48 billion, a PE ratio of 14.03, a PEG ratio of 0.54 and a beta of 2.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.24 and a quick ratio of 4.24.

Momo (NASDAQ:MOMO) last announced its earnings results on Tuesday, May 28th. The information services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.18. Momo had a return on equity of 23.10% and a net margin of 15.96%. The firm had revenue of $554.73 million during the quarter, compared to analyst estimates of $531.78 million. During the same quarter in the prior year, the company earned $0.69 EPS. The business’s revenue was up 27.5% compared to the same quarter last year. Equities research analysts forecast that Momo Inc will post 2.13 EPS for the current year.

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Momo Profile

Momo Inc operates a mobile-based social and entertainment platform in the People's Republic of China. The company operates Momo platform that includes its Momo mobile application and various related features, functionalities, tools, and services to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations; interests; and recreational activities, including live talent shows, short videos, social games, and other video- and audio-based interactive experiences.

Further Reading: Cash Asset Ratio

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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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