Deltec Asset Management LLC purchased a new position in Momo Inc. (NASDAQ:MOMO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 60,650 shares of the information services provider’s stock, valued at approximately $1,901,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Momo in the second quarter worth $101,000. D.A. Davidson & CO. acquired a new position in shares of Momo in the second quarter worth $136,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Momo in the second quarter worth $155,000. Alta Advisers Ltd acquired a new position in shares of Momo in the second quarter worth $156,000. Finally, Exane Derivatives acquired a new position in shares of Momo in the third quarter worth $194,000. 39.66% of the stock is currently owned by institutional investors and hedge funds.
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Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $287.84 million. Momo’s revenue was up 31120.0% compared to the same quarter last year.
A number of equities analysts have recently weighed in on MOMO shares. TheStreet downgraded shares of Momo from a “b-” rating to a “c+” rating in a research note on Wednesday, July 5th. BidaskClub raised shares of Momo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $54.00 target price (up from $52.00) on shares of Momo in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Standpoint Research started coverage on shares of Momo in a research report on Wednesday, August 30th. They set a “buy” rating and a $44.00 target price on the stock. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $41.39.
Momo Company Profile
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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