ClariVest Asset Management LLC Grows Position in Momo Inc. (MOMO)

ClariVest Asset Management LLC increased its stake in Momo Inc. (NASDAQ:MOMO) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,277 shares of the information services provider’s stock after buying an additional 10,421 shares during the period. ClariVest Asset Management LLC owned 0.08% of Momo worth $4,584,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MOMO. BT Investment Management Ltd raised its stake in Momo by 661.7% in the third quarter. BT Investment Management Ltd now owns 7,611,160 shares of the information services provider’s stock worth $238,534,000 after buying an additional 6,611,904 shares in the last quarter. BlackRock Inc. raised its stake in Momo by 2,664.8% in the second quarter. BlackRock Inc. now owns 3,580,416 shares of the information services provider’s stock worth $132,331,000 after buying an additional 3,450,915 shares in the last quarter. Acadian Asset Management LLC raised its stake in Momo by 113.3% in the second quarter. Acadian Asset Management LLC now owns 4,264,640 shares of the information services provider’s stock worth $157,624,000 after buying an additional 2,265,665 shares in the last quarter. Greenwoods Asset Management Ltd raised its stake in Momo by 2,615.2% in the second quarter. Greenwoods Asset Management Ltd now owns 1,982,125 shares of the information services provider’s stock worth $73,259,000 after buying an additional 1,909,125 shares in the last quarter. Finally, State Street Corp raised its stake in Momo by 3,342.6% in the second quarter. State Street Corp now owns 1,096,159 shares of the information services provider’s stock worth $40,512,000 after buying an additional 1,064,318 shares in the last quarter. 44.27% of the stock is owned by institutional investors.

Shares of Momo Inc. (NASDAQ:MOMO) traded up $1.73 on Monday, reaching $32.95. 1,754,018 shares of the company’s stock were exchanged, compared to its average volume of 5,278,160. The stock has a market capitalization of $6,071.48, a PE ratio of 24.20 and a beta of 1.77. Momo Inc. has a twelve month low of $16.73 and a twelve month high of $46.69.

Momo (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, August 22nd. The information services provider reported $0.29 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $287.84 million. The business’s revenue was up 31120.0% on a year-over-year basis. equities research analysts anticipate that Momo Inc. will post 1.46 earnings per share for the current fiscal year.

A number of research firms recently issued reports on MOMO. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Jefferies Group LLC reissued a “buy” rating and issued a $54.00 price target on shares of Momo in a research note on Tuesday, October 3rd. Vetr raised shares of Momo from a “buy” rating to a “strong-buy” rating and set a $42.17 price target for the company in a research note on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) began coverage on shares of Momo in a research note on Wednesday, August 30th. They issued a “buy” rating and a $56.00 price target for the company. Finally, Standpoint Research began coverage on shares of Momo in a research note on Wednesday, August 30th. They issued a “buy” rating and a $44.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $43.30.

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About Momo

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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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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