Tiger Pacific Capital LP lowered its stake in shares of Momo Inc. (NASDAQ:MOMO) by 32.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,165 shares of the information services provider’s stock after selling 76,500 shares during the period. Momo accounts for approximately 4.3% of Tiger Pacific Capital LP’s investment portfolio, making the stock its 10th largest position. Tiger Pacific Capital LP’s holdings in Momo were worth $5,809,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MOMO. Aperio Group LLC purchased a new position in shares of Momo during the second quarter valued at $312,000. Diversified Trust Co purchased a new position in shares of Momo during the second quarter valued at $760,000. Handelsinvest Investeringsforvaltning boosted its position in shares of Momo by 2,187.5% in the second quarter. Handelsinvest Investeringsforvaltning now owns 36,600 shares of the information services provider’s stock valued at $1,353,000 after buying an additional 35,000 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Momo during the second quarter valued at $699,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Momo during the second quarter valued at $373,000. 40.33% of the stock is owned by institutional investors and hedge funds.
Momo Inc. (NASDAQ:MOMO) traded up 2.17% during trading on Thursday, hitting $42.91. The company had a trading volume of 2,162,568 shares. Momo Inc. has a 12-month low of $12.89 and a 12-month high of $45.95.
Momo (NASDAQ:MOMO) last announced 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. Momo had a return on equity of 36.36% and a net margin of 28.59%. The business had revenue of $265.20 million during the quarter, compared to analysts’ expectations of $245.48 million. Momo’s revenue for the quarter was up 421.0% on a year-over-year basis. On average, equities research analysts expect that Momo Inc. will post $1.57 earnings per share for the current year.
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Several research analysts recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 target price (up previously from $52.00) on shares of Momo in a research note on Friday, July 14th. BidaskClub upgraded Momo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. TheStreet lowered Momo from a “b-” rating to a “c+” rating in a research report on Wednesday, July 5th. HSBC Holdings plc increased their price target on Momo from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Finally, Deutsche Bank AG upgraded Momo from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $52.00 in a research report on Wednesday, May 24th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Momo has a consensus rating of “Buy” and a consensus target price of $39.95.
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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