Shell Asset Management Co. Takes Position in Momo Inc. (MOMO)
Shell Asset Management Co. bought a new position in Momo Inc. (NASDAQ:MOMO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 27,000 shares of the information services provider’s stock, valued at approximately $998,000.
Several other institutional investors also recently modified their holdings of the company. American Century Companies Inc. bought a new position in shares of Momo during the first quarter worth about $10,140,000. First Trust Advisors LP boosted its position in shares of Momo by 35.8% in the first quarter. First Trust Advisors LP now owns 63,832 shares of the information services provider’s stock worth $2,175,000 after buying an additional 16,842 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Momo by 4,945.2% in the first quarter. Wells Fargo & Company MN now owns 1,050,973 shares of the information services provider’s stock worth $35,807,000 after buying an additional 1,030,142 shares during the last quarter. Tiger Pacific Capital LP bought a new position in shares of Momo during the first quarter worth about $7,961,000. Finally, Acadian Asset Management LLC boosted its position in shares of Momo by 90.9% in the first quarter. Acadian Asset Management LLC now owns 1,998,975 shares of the information services provider’s stock worth $68,104,000 after buying an additional 951,839 shares during the last quarter. Institutional investors and hedge funds own 42.51% of the company’s stock.
Shares of Momo Inc. (NASDAQ MOMO) opened at 45.80 on Wednesday. The firm has a market cap of $8.93 billion, a PE ratio of 42.41 and a beta of 1.91. The company’s 50-day moving average price is $40.77 and its 200-day moving average price is $34.94. Momo Inc. has a 52-week low of $14.70 and a 52-week high of $46.69.
Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, May 23rd. The information services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.12. Momo had a net margin of 28.59% and a return on equity of 36.36%. The business had revenue of $265.20 million during the quarter, compared to analysts’ expectations of $245.48 million. The company’s quarterly revenue was up 421.0% on a year-over-year basis. Equities analysts expect that Momo Inc. will post $1.56 earnings per share for the current fiscal year.
MOMO has been the topic of a number of research analyst reports. TheStreet upgraded Momo from a “c” rating to a “b-” rating in a report on Thursday, April 13th. Benchmark Co. initiated coverage on Momo in a report on Tuesday, April 18th. They set a “buy” rating and a $44.00 price target on the stock. Vetr downgraded Momo from a “strong-buy” rating to a “buy” rating and set a $42.54 price target on the stock. in a report on Monday, April 17th. Nomura reiterated a “buy” rating and set a $43.00 price target on shares of Momo in a report on Wednesday, April 12th. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of Momo in a report on Tuesday, April 11th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Momo presently has a consensus rating of “Buy” and an average price target of $39.95.
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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