USA Financial Portformulas Corp purchased a new stake in Momo Inc. (NASDAQ:MOMO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,464 shares of the information services provider’s stock, valued at approximately $498,000.

A number of other institutional investors have also made changes to their positions in the business. HighTower Advisors LLC increased its holdings in Momo by 6.3% in the 2nd quarter. HighTower Advisors LLC now owns 8,605 shares of the information services provider’s stock valued at $316,000 after buying an additional 513 shares during the period. Profund Advisors LLC grew its holdings in shares of Momo by 9.6% in the 2nd quarter. Profund Advisors LLC now owns 24,268 shares of the information services provider’s stock worth $897,000 after purchasing an additional 2,134 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Momo in the 2nd quarter worth about $101,000. Royal Bank of Canada grew its holdings in shares of Momo by 63.8% in the 2nd quarter. Royal Bank of Canada now owns 8,332 shares of the information services provider’s stock worth $308,000 after purchasing an additional 3,246 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new stake in shares of Momo in the 2nd quarter worth about $136,000. 39.15% of the stock is currently owned by hedge funds and other institutional investors.

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Momo Inc. (NASDAQ:MOMO) traded down 1.59% during midday trading on Thursday, hitting $33.44. The stock had a trading volume of 1,428,971 shares. The company has a 50-day moving average price of $34.69 and a 200-day moving average price of $38.42. The stock has a market cap of $6.60 billion, a P/E ratio of 26.23 and a beta of 1.82. Momo Inc. has a 52 week low of $16.73 and a 52 week high of $46.69.

Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. The business 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 company’s revenue for the quarter was up 31120.0% compared to the same quarter last year. Equities analysts expect that Momo Inc. will post $1.66 EPS for the current year.

A number of brokerages have commented on MOMO. Jefferies Group LLC reissued a “buy” rating and set a $54.00 price objective on shares of Momo in a report on Tuesday, October 3rd. Vetr lowered shares of Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 price objective on the stock. in a report on Monday, September 4th. Zacks Investment Research lowered shares of Momo from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. TheStreet lowered shares of Momo from a “b-” rating to a “c+” rating in a report on Wednesday, July 5th. Finally, BidaskClub raised shares of Momo from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $41.81.

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.

Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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