Teacher Retirement System of Texas purchased a new position in Momo Inc (NASDAQ:MOMO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,560 shares of the information services provider’s stock, valued at approximately $242,000.

Several other large investors also recently modified their holdings of MOMO. Fosun International Ltd bought a new position in shares of Momo in the 1st quarter worth $153,365,000. Acadian Asset Management LLC bought a new position in shares of Momo in the 2nd quarter worth $167,114,000. Pendal Group Ltd increased its holdings in shares of Momo by 42.5% in the 1st quarter. Pendal Group Ltd now owns 10,842,147 shares of the information services provider’s stock worth $405,279,000 after buying an additional 3,230,987 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Momo by 43.9% in the 1st quarter. BlackRock Inc. now owns 6,452,519 shares of the information services provider’s stock worth $241,196,000 after buying an additional 1,968,759 shares during the last quarter. Finally, Prime Capital Management Co Ltd increased its holdings in shares of Momo by 30.7% in the 1st quarter. Prime Capital Management Co Ltd now owns 6,463,436 shares of the information services provider’s stock worth $241,603,000 after buying an additional 1,519,312 shares during the last quarter. 53.81% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. ValuEngine lowered shares of Momo from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub raised shares of Momo from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Zacks Investment Research lowered shares of Momo from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, Standpoint Research raised shares of Momo from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Momo presently has a consensus rating of “Buy” and an average target price of $49.41.

Shares of Momo stock opened at $45.15 on Friday. Momo Inc has a 52-week low of $22.49 and a 52-week high of $54.24. The firm has a market capitalization of $8.77 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 0.87 and a beta of 1.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.46 and a quick ratio of 3.46.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.07. Momo had a net margin of 25.40% and a return on equity of 37.12%. The company had revenue of $494.27 million during the quarter, compared to analysts’ expectations of $479.37 million. During the same quarter in the prior year, the company earned $0.35 EPS. The firm’s revenue was up 58.3% on a year-over-year basis. equities research analysts forecast that Momo Inc will post 2.19 EPS for the current year.

Momo Profile

Momo Inc operates a mobile-based social and entertainment platform in the People's Republic of China. The company operates Momo platform that includes its Momo mobile application and various related features, functionalities, tools, and services to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations; interests; and recreational activities, including live videos, short videos, social games, and other video- and audio-based interactive experiences.

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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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