Momo (MOMO) Shares Down 5.6%
Momo Inc (NASDAQ:MOMO) shares traded down 5.6% during mid-day trading on Monday . The company traded as low as $35.94 and last traded at $35.99. 6,443,965 shares traded hands during mid-day trading, an increase of 67% from the average session volume of 3,855,561 shares. The stock had previously closed at $38.11.
A number of research analysts recently issued reports on the stock. BidaskClub downgraded shares of Momo from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a research note on Saturday, March 9th. Nomura lifted their price target on shares of Momo from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. ValuEngine upgraded shares of Momo from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Morgan Stanley upgraded shares of Momo from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $33.00 to $44.00 in a research note on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Momo currently has a consensus rating of “Buy” and a consensus price target of $46.67.
The company has a current ratio of 4.69, a quick ratio of 4.76 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 0.65 and a beta of 2.16.
The business also recently disclosed a special dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, April 4th.
Hedge funds have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. raised its holdings in Momo by 27.2% during the fourth quarter. Eqis Capital Management Inc. now owns 12,444 shares of the information services provider’s stock worth $296,000 after purchasing an additional 2,664 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of Momo in the 1st quarter valued at $232,000. NumerixS Investment Technologies Inc acquired a new position in shares of Momo in the 4th quarter valued at $71,000. First Manhattan Co. increased its holdings in shares of Momo by 276.1% in the 4th quarter. First Manhattan Co. now owns 738,000 shares of the information services provider’s stock valued at $17,527,000 after acquiring an additional 541,800 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Momo by 25.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 194,337 shares of the information services provider’s stock valued at $8,512,000 after acquiring an additional 39,946 shares during the period. 52.61% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: This piece was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.dailypolitical.com/2019/04/15/momo-momo-shares-down-5-6.html.
About Momo (NASDAQ:MOMO)
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: What is the Ex-Dividend Date in Investing?
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.