Momo Inc. (MOMO) Stake Increased by Harbour Capital Advisors LLC
Harbour Capital Advisors LLC lifted its holdings in Momo Inc. (NASDAQ:MOMO) by 67.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,700 shares of the information services provider’s stock after buying an additional 4,300 shares during the period. Harbour Capital Advisors LLC’s holdings in Momo were worth $335,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. HighTower Advisors LLC boosted its position in shares of Momo by 6.3% in the second quarter. HighTower Advisors LLC now owns 8,605 shares of the information services provider’s stock worth $316,000 after buying an additional 513 shares during the period. Profund Advisors LLC boosted its position in shares of Momo by 9.6% in the second quarter. Profund Advisors LLC now owns 24,268 shares of the information services provider’s stock worth $897,000 after buying an additional 2,134 shares during the period. Rational Advisors LLC boosted its position in shares of Momo by 108.7% in the third quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock worth $150,000 after buying an additional 2,500 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Momo in the second quarter worth $101,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Momo by 40.4% in the third quarter. Teacher Retirement System of Texas now owns 9,835 shares of the information services provider’s stock worth $308,000 after buying an additional 2,828 shares during the period. 44.27% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on MOMO shares. Zacks Investment Research raised Momo from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, October 25th. Goldman Sachs Group, Inc. (The) began coverage on Momo in a research report on Wednesday, August 30th. They issued a “buy” rating and a $56.00 target price for the company. Vetr lowered Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 price objective for the company. in a report on Monday, September 4th. Jefferies Group LLC reiterated a “buy” rating and set a $54.00 price objective on shares of Momo in a report on Tuesday, October 3rd. Finally, Standpoint Research began coverage on Momo in a report on Wednesday, August 30th. They set a “buy” rating and a $44.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.30.
Shares of Momo Inc. (MOMO) traded down $0.63 during trading hours on Wednesday, hitting $32.31. The company had a trading volume of 4,907,700 shares, compared to its average volume of 5,276,301. Momo Inc. has a twelve month low of $16.73 and a twelve month high of $46.69. The stock has a market capitalization of $6,390.00 and a price-to-earnings ratio of 25.53.
Momo (NASDAQ:MOMO) last posted its earnings results on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Momo had a return on equity of 38.94% and a net margin of 27.00%. The company had revenue of $312.20 million for the quarter, compared to analyst estimates of $287.84 million. Momo’s revenue for the quarter was up 31120.0% on a year-over-year basis. equities analysts anticipate that Momo Inc. will post 1.46 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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