First Trust Advisors LP raised its position in Momo Inc. (NASDAQ:MOMO) by 15.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 106,319 shares of the information services provider’s stock after acquiring an additional 14,459 shares during the period. First Trust Advisors LP owned approximately 0.07% of Momo worth $3,332,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in MOMO. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Momo in the second quarter valued at approximately $101,000. D.A. Davidson & CO. acquired a new stake in Momo in the second quarter valued at approximately $136,000. Benjamin F. Edwards & Company Inc. acquired a new stake in Momo in the second quarter valued at approximately $155,000. Alta Advisers Ltd acquired a new stake in Momo in the second quarter valued at approximately $156,000. Finally, Exane Derivatives acquired a new stake in Momo in the third quarter valued at approximately $194,000. 44.27% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on MOMO shares. Jefferies Group LLC reissued a “buy” rating and issued a $54.00 price objective on shares of Momo in a research note on Tuesday, October 3rd. Vetr cut Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 price objective for the company. in a research note on Monday, September 4th. Zacks Investment Research raised Momo from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, October 25th. TheStreet raised Momo from a “c+” rating to a “b” rating in a research note on Monday, August 7th. Finally, Goldman Sachs Group, Inc. (The) started coverage on Momo in a research note on Wednesday, August 30th. They issued a “buy” rating and a $56.00 price objective for the company. Two equities research 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. Momo presently has a consensus rating of “Buy” and an average price target of $43.30.
Momo (NASDAQ:MOMO) last announced its earnings results on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The company had revenue of $312.20 million for the quarter, compared to analysts’ expectations of $287.84 million. Momo had a return on equity of 38.94% and a net margin of 27.00%. The business’s revenue was up 31120.0% on a year-over-year basis. analysts predict that Momo Inc. will post 1.46 earnings per share for the current fiscal year.
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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