Momo Inc (MOMO) Shares Bought by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Momo Inc (NASDAQ:MOMO) by 22.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,871 shares of the information services provider’s stock after purchasing an additional 1,971 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Momo were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. USA Financial Portformulas Corp purchased a new position in shares of Momo in the 2nd quarter valued at approximately $498,000. Swiss National Bank raised its stake in Momo by 38.8% during the third quarter. Swiss National Bank now owns 242,486 shares of the information services provider’s stock valued at $7,600,000 after buying an additional 67,727 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in Momo during the third quarter valued at $256,000. BRILLIANCE ASSET MANAGEMENT Ltd purchased a new position in Momo during the second quarter valued at $28,749,000. Finally, KBC Group NV purchased a new position in Momo during the third quarter valued at $16,970,000. Institutional investors own 40.07% of the company’s stock.
A number of brokerages have issued reports on MOMO. BidaskClub upgraded Momo from a “sell” rating to a “hold” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded Momo from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upgraded Momo from a “neutral” rating to an “overweight” rating in a research note on Friday, January 26th. Jefferies Group reiterated a “buy” rating and set a $45.00 price objective on shares of Momo in a research note on Wednesday, January 24th. Finally, Deutsche Bank set a $43.00 price objective on Momo and gave the company a “buy” rating in a research note on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $41.09.
Momo (NASDAQ:MOMO) last posted its earnings results on Tuesday, November 28th. The information services provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.07. The business had revenue of $354.10 million during the quarter, compared to analyst estimates of $342.48 million. Momo had a return on equity of 39.60% and a net margin of 25.88%. The company’s revenue was up 125.5% on a year-over-year basis. equities analysts anticipate that Momo Inc will post 1.47 earnings per share for the current year.
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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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