Malaga Cove Capital LLC Buys New Position in Momo Inc. (MOMO)

Malaga Cove Capital LLC bought a new position in Momo Inc. (NASDAQ:MOMO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,247 shares of the information services provider’s stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rational Advisors LLC grew its stake in shares of Momo by 108.7% in the 3rd quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock worth $150,000 after acquiring an additional 2,500 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Momo in the 3rd quarter worth $429,000. Macquarie Group Ltd. grew its stake in shares of Momo by 218.8% in the 3rd quarter. Macquarie Group Ltd. now owns 80,300 shares of the information services provider’s stock worth $2,517,000 after acquiring an additional 55,109 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Momo in the 3rd quarter worth $3,586,000. Finally, ClariVest Asset Management LLC grew its stake in shares of Momo by 7.7% in the 3rd quarter. ClariVest Asset Management LLC now owns 146,277 shares of the information services provider’s stock worth $4,584,000 after acquiring an additional 10,421 shares in the last quarter. Hedge funds and other institutional investors own 44.27% of the company’s stock.

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MOMO has been the topic of a number of research analyst reports. TheStreet raised shares of Momo from a “c+” rating to a “b” rating in a report on Monday, August 7th. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and issued a $54.00 price target on shares of Momo in a report on Wednesday, August 16th. Vetr downgraded shares of Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 price target on the stock. in a report on Monday, September 4th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of Momo in a report on Wednesday, August 30th. They issued a “buy” rating and a $56.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $43.30.

Momo Inc. (NASDAQ:MOMO) traded up $1.40 during midday trading on Monday, reaching $32.62. 3,488,021 shares of the company’s stock traded hands, compared to its average volume of 5,278,160. The stock has a market capitalization of $6,071.48, a P/E ratio of 24.20 and a beta of 1.77. Momo Inc. has a 1-year low of $16.73 and a 1-year high of $46.69.

Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, August 22nd. The information services provider reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $312.20 million for the quarter, compared to the consensus estimate of $287.84 million. Momo had a net margin of 27.00% and a return on equity of 38.94%. Momo’s revenue for the quarter was up 31120.0% on a year-over-year basis. analysts anticipate that Momo Inc. will post 1.46 earnings per share for the current fiscal year.

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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