Morgan Stanley Boosts Stake in Momo Inc. (MOMO)

Morgan Stanley increased its position in Momo Inc. (NASDAQ:MOMO) by 818.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,834,761 shares of the information services provider’s stock after buying an additional 10,545,573 shares during the period. Morgan Stanley owned about 6.09% of Momo worth $403,211,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Penserra Capital Management LLC boosted its stake in shares of Momo by 77.8% in the first quarter. Penserra Capital Management LLC now owns 68,579 shares of the information services provider’s stock valued at $2,336,000 after buying an additional 30,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Momo by 359,875.4% in the first quarter. JPMorgan Chase & Co. now owns 2,062,659 shares of the information services provider’s stock worth $70,276,000 after buying an additional 2,062,086 shares in the last quarter. Myriad Asset Management Ltd. bought a new position in shares of Momo during the first quarter worth approximately $5,962,000. Ariose Capital Management Ltd acquired a new position in Momo during the first quarter worth about $15,625,000. Finally, Westpac Banking Corp acquired a new position in Momo during the first quarter worth about $45,706,000. 40.18% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

Momo Inc. (NASDAQ:MOMO) traded up 2.20% on Monday, reaching $37.70. 4,211,607 shares of the company’s stock traded hands. Momo Inc. has a 52 week low of $8.88 and a 52 week high of $45.95. The firm has a market capitalization of $7.35 billion, a P/E ratio of 34.91 and a beta of 1.86. The stock has a 50-day moving average of $39.17 and a 200 day moving average of $29.98.

Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, May 23rd. The information services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. The firm had revenue of $265.20 million during the quarter, compared to the consensus estimate of $245.48 million. Momo had a net margin of 28.59% and a return on equity of 36.36%. The business’s quarterly revenue was up 421.0% on a year-over-year basis. On average, equities analysts expect that Momo Inc. will post $1.57 EPS for the current fiscal year.

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A number of equities research analysts recently commented on the stock. Vetr raised shares of Momo from a “buy” rating to a “strong-buy” rating and set a $42.54 target price for the company in a research report on Tuesday, April 11th. Zacks Investment Research cut shares of Momo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 10th. TheStreet raised shares of Momo from a “c” rating to a “b-” rating in a report on Thursday, April 13th. HSBC Holdings plc raised their price target on shares of Momo from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Momo in a report on Tuesday, April 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $39.82.

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.

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