Krane Funds Advisors LLC Lowers Stake in Momo Inc (MOMO)

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Krane Funds Advisors LLC cut its position in shares of Momo Inc (NASDAQ:MOMO) by 45.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,233,410 shares of the information services provider’s stock after selling 1,037,994 shares during the period. Momo accounts for 4.6% of Krane Funds Advisors LLC’s portfolio, making the stock its 9th largest holding. Krane Funds Advisors LLC owned 0.62% of Momo worth $53,653,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new position in shares of Momo during the 2nd quarter worth about $135,000. Resources Investment Advisors Inc. acquired a new position in shares of Momo during the 1st quarter worth about $157,000. Liberty Mutual Group Asset Management Inc. acquired a new position in shares of Momo during the 2nd quarter worth about $213,000. ING Groep NV acquired a new position in shares of Momo during the 1st quarter worth about $224,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Momo during the 2nd quarter worth about $242,000. Institutional investors own 53.47% of the company’s stock.

Shares of MOMO stock opened at $47.24 on Wednesday. The stock has a market cap of $9.22 billion, a P/E ratio of 30.88, a P/E/G ratio of 0.92 and a beta of 1.58. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.21. Momo Inc has a 52 week low of $22.49 and a 52 week high of $54.24.

Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.07. The firm had revenue of $494.27 million during the quarter, compared to the consensus estimate of $479.37 million. Momo had a net margin of 25.40% and a return on equity of 37.12%. The business’s revenue for the quarter was up 58.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. research analysts forecast that Momo Inc will post 2.19 EPS for the current year.

Several analysts recently commented on the stock. UBS Group raised shares of Momo from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Thursday, May 31st. Standpoint Research raised shares of Momo from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Benchmark lifted their target price on shares of Momo from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 30th. Finally, ValuEngine raised shares of Momo from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Momo presently has a consensus rating of “Buy” and a consensus target price of $49.41.

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 videos, short videos, social games, and other video- and audio-based interactive experiences.

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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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