Bamco Inc. NY trimmed its stake in shares of Momo Inc. (NASDAQ:MOMO) by 59.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 631,624 shares of the information services provider’s stock after selling 934,300 shares during the period. Bamco Inc. NY’s holdings in Momo were worth $23,345,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MOMO. First Trust Advisors LP raised its holdings in shares of Momo by 35.8% during the first quarter. First Trust Advisors LP now owns 63,832 shares of the information services provider’s stock worth $2,175,000 after acquiring an additional 16,842 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Momo by 22,300.0% during the first quarter. BNP Paribas Arbitrage SA now owns 15,680 shares of the information services provider’s stock worth $534,000 after acquiring an additional 15,610 shares during the period. Sei Investments Co. acquired a new stake in shares of Momo during the first quarter worth $1,681,000. Ameriprise Financial Inc. acquired a new stake in shares of Momo during the first quarter worth $493,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Momo during the first quarter worth $2,855,000. Institutional investors and hedge funds own 39.14% of the company’s stock.

Several equities research analysts have issued reports on MOMO shares. TheStreet upgraded shares of Momo from a “c+” rating to a “b” rating in a research note on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $54.00 price target on shares of Momo in a research note on Wednesday, August 16th. Zacks Investment Research lowered shares of Momo from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Vetr upgraded shares of Momo from a “buy” rating to a “strong-buy” rating and set a $42.17 price target on the stock in a research note on Wednesday, September 13th. Finally, Standpoint Research started coverage on shares of Momo in a research note on Wednesday, August 30th. They issued a “buy” rating and a $44.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.64.

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Momo Inc. (NASDAQ MOMO) traded down 3.39% on Friday, hitting $31.34. 7,722,634 shares of the stock traded hands. Momo Inc. has a 52 week low of $16.73 and a 52 week high of $46.69.

Momo (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, August 22nd. The information services provider reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Momo had a net margin of 27.00% and a return on equity of 38.94%. The firm had revenue of $312.20 million during the quarter, compared to analyst estimates of $287.84 million. The company’s revenue was up 31120.0% compared to the same quarter last year. Equities research analysts forecast that Momo Inc. will post $1.67 EPS for the current year.

About Momo

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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