Adalta Capital Management LLC Invests $522,000 in Momo Inc (MOMO)
Adalta Capital Management LLC acquired a new stake in Momo Inc (NASDAQ:MOMO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 12,000 shares of the information services provider’s stock, valued at approximately $522,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Marshall Wace LLP grew its position in shares of Momo by 45.8% in the 2nd quarter. Marshall Wace LLP now owns 187,899 shares of the information services provider’s stock valued at $8,174,000 after acquiring an additional 59,006 shares during the period. Vident Investment Advisory LLC bought a new position in shares of Momo in the 2nd quarter valued at about $816,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Momo in the 2nd quarter valued at about $265,000. Point72 Asset Management L.P. grew its position in shares of Momo by 582.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 473,600 shares of the information services provider’s stock valued at $20,602,000 after acquiring an additional 404,200 shares during the period. Finally, Morgan Stanley grew its position in shares of Momo by 3.7% in the 2nd quarter. Morgan Stanley now owns 2,050,368 shares of the information services provider’s stock valued at $89,191,000 after acquiring an additional 72,564 shares during the period. 53.47% of the stock is owned by institutional investors.
A number of research analysts have recently commented on the stock. ValuEngine downgraded shares of Momo from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. BidaskClub raised shares of Momo from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Zacks Investment Research downgraded 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 issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $49.41.
Momo (NASDAQ:MOMO) last announced its earnings results on Wednesday, August 22nd. The information services provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $494.27 million during the quarter, compared to the consensus estimate of $479.37 million. Momo had a net margin of 25.40% and a return on equity of 37.12%. Momo’s revenue was up 58.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. research analysts forecast that Momo Inc will post 2.19 EPS for the current year.
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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