Matthews International Capital Management LLC grew its position in Momo Inc (NASDAQ:MOMO) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 494,300 shares of the information services provider’s stock after buying an additional 25,700 shares during the quarter. Momo accounts for about 0.8% of Matthews International Capital Management LLC’s portfolio, making the stock its 20th largest holding. Matthews International Capital Management LLC’s holdings in Momo were worth $17,696,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of MOMO. Groesbeck Investment Management Corp NJ acquired a new position in Momo during the 1st quarter worth approximately $1,429,000. British Airways Pensions Investment Management Ltd increased its position in Momo by 10.8% in the 1st quarter. British Airways Pensions Investment Management Ltd now owns 70,867 shares of the information services provider’s stock valued at $2,710,000 after acquiring an additional 6,900 shares during the period. SeaTown Holdings Pte. Ltd. acquired a new position in Momo in the 1st quarter valued at approximately $10,552,000. Virginia Retirement Systems ET AL increased its position in Momo by 11.5% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 73,800 shares of the information services provider’s stock valued at $2,642,000 after acquiring an additional 7,600 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Momo by 74.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,110,070 shares of the information services provider’s stock valued at $39,741,000 after acquiring an additional 475,000 shares during the period. Institutional investors own 59.50% of the company’s stock.
Several equities analysts have issued reports on MOMO shares. Zacks Investment Research upgraded shares of Momo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 24th. ValuEngine upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Nomura upped their price target on shares of Momo from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Citigroup raised shares of Momo from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $40.00 in a research note on Tuesday, May 28th. Finally, Jefferies Financial Group initiated coverage on shares of Momo in a research note on Monday, August 5th. They issued a “buy” rating and a $40.40 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $39.91.
NASDAQ MOMO traded down $0.57 on Thursday, hitting $32.89. 762,258 shares of the company were exchanged, compared to its average volume of 2,223,909. The company has a market cap of $6.86 billion, a PE ratio of 16.78 and a beta of 2.29. Momo Inc has a 12 month low of $22.85 and a 12 month high of $49.38. The stock has a fifty day moving average of $33.49 and a 200-day moving average of $33.48. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.46.
Momo (NASDAQ:MOMO) last issued its earnings results on Tuesday, May 28th. The information services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.18. The business had revenue of $554.73 million for the quarter, compared to analyst estimates of $531.78 million. Momo had a net margin of 15.96% and a return on equity of 23.10%. Momo’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, analysts expect that Momo Inc will post 1.68 earnings per share for the current year.
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.
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