Great West Life Assurance Co. Can Raises Stake in Momo Inc (MOMO)
Great West Life Assurance Co. Can increased its position in Momo Inc (NASDAQ:MOMO) by 19.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,100 shares of the information services provider’s stock after buying an additional 10,000 shares during the period. Great West Life Assurance Co. Can’s holdings in Momo were worth $2,702,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MOMO. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Momo by 6.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,797 shares of the information services provider’s stock worth $1,862,000 after purchasing an additional 2,500 shares during the period. Comerica Bank increased its position in Momo by 31.2% in the first quarter. Comerica Bank now owns 10,992 shares of the information services provider’s stock worth $393,000 after purchasing an additional 2,612 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Momo by 26.5% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,876 shares of the information services provider’s stock worth $604,000 after buying an additional 2,905 shares during the last quarter. North Star Investment Management Corp. bought a new position in shares of Momo during the 2nd quarter valued at about $135,000. Finally, Xact Kapitalforvaltning AB lifted its holdings in shares of Momo by 19.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 19,934 shares of the information services provider’s stock valued at $867,000 after purchasing an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 53.47% of the company’s stock.
Several research analysts have weighed in on the company. BidaskClub raised Momo from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th. Jefferies Financial Group upped their target price on Momo to $60.00 and gave the company a “buy” rating in a research report on Monday, June 11th. UBS Group upgraded Momo from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Thursday, May 31st. Benchmark increased their price target on Momo from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, May 30th. Finally, Nomura raised their target price on Momo to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, May 30th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $49.41.
Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $479.37 million. During the same period last year, the company posted $0.35 earnings per share. Momo’s revenue was up 58.3% compared to the same quarter last year. sell-side analysts forecast that Momo Inc will post 2.19 earnings per share for the current year.
Momo Company 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.
Featured Article: How is a Moving Average Calculated?
Receive News & Ratings for Momo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momo and related companies with MarketBeat.com's FREE daily email newsletter.