Lenox Wealth Management Inc. trimmed its position in shares of Momo Inc (NASDAQ:MOMO) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,545 shares of the information services provider’s stock after selling 472 shares during the period. Lenox Wealth Management Inc.’s holdings in Momo were worth $698,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. bought a new position in Momo during the 1st quarter valued at $3,130,000. DAVENPORT & Co LLC boosted its stake in Momo by 23.2% during the 2nd quarter. DAVENPORT & Co LLC now owns 13,895 shares of the information services provider’s stock valued at $497,000 after acquiring an additional 2,620 shares during the last quarter. Hexavest Inc. boosted its stake in Momo by 356.6% during the 2nd quarter. Hexavest Inc. now owns 29,451 shares of the information services provider’s stock valued at $1,054,000 after acquiring an additional 23,001 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in Momo by 35.2% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 7,213 shares of the information services provider’s stock valued at $258,000 after acquiring an additional 1,878 shares during the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Momo by 15.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 29,834 shares of the information services provider’s stock worth $1,068,000 after buying an additional 4,100 shares during the last quarter. 58.63% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on MOMO shares. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Jefferies Financial Group started coverage on shares of Momo in a research report on Monday, August 5th. They issued a “buy” rating and a $40.40 price target on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $41.63.
Shares of Momo stock traded down $0.36 during trading hours on Friday, reaching $38.80. The company’s stock had a trading volume of 1,523,600 shares, compared to its average volume of 3,186,868. The company’s 50 day simple moving average is $33.99 and its 200 day simple moving average is $33.22. The stock has a market cap of $7.77 billion, a P/E ratio of 19.80 and a beta of 2.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 6.03 and a current ratio of 6.03. Momo Inc has a one year low of $22.85 and a one year high of $41.50.
Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, August 27th. The information services provider reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.07). The business had revenue of $604.90 million during the quarter, compared to analyst estimates of $584.68 million. Momo had a return on equity of 21.74% and a net margin of 14.68%. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. On average, sell-side analysts predict that Momo Inc will post 1.49 earnings per share for the current fiscal 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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