BNP Paribas Arbitrage SA Invests $196,000 in Momo Inc. (MOMO)
BNP Paribas Arbitrage SA purchased a new position in Momo Inc. (NASDAQ:MOMO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,690 shares of the company’s stock, valued at approximately $196,000.
Several other large investors have also bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of Momo by 5.8% in the second quarter. SG Americas Securities LLC now owns 22,134 shares of the company’s stock valued at $224,000 after buying an additional 1,205 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Momo during the second quarter valued at approximately $438,000. Societe Generale purchased a new stake in shares of Momo during the second quarter valued at approximately $224,000. Veritas Asset Management LLP purchased a new stake in shares of Momo during the second quarter valued at approximately $2,275,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Momo during the second quarter valued at approximately $689,000. 10.36% of the stock is owned by institutional investors and hedge funds.
Momo Inc. (NASDAQ:MOMO) opened at 24.85 on Thursday. The firm has a market cap of $4.71 billion, a PE ratio of 177.50 and a beta of 2.24. The stock has a 50 day moving average of $22.24 and a 200 day moving average of $15.58. Momo Inc. has a 12-month low of $6.72 and a 12-month high of $26.24.
Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, August 16th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The company earned $99 million during the quarter, compared to analyst estimates of $30.70 million. Momo had a net margin of 12.23% and a return on equity of 5.81%. On average, equities research analysts anticipate that Momo Inc. will post $0.47 EPS for the current fiscal year.
Several equities research analysts have commented on the stock. Morgan Stanley raised shares of Momo from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $12.70 to $28.00 in a research note on Tuesday, September 6th. Zacks Investment Research upgraded shares of Momo from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, September 8th. JPMorgan Chase & Co. began coverage on shares of Momo in a report on Wednesday, August 31st. They issued an “overweight” rating for the company. Finally, Credit Suisse Group AG began coverage on shares of Momo in a report on Wednesday, September 14th. They issued an “outperform” rating and a $29.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.00.
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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