Momo (MOMO) Shares Gap Up After Better-Than-Expected Earnings
Momo Inc (NASDAQ:MOMO) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $36.78, but opened at $36.44. Momo shares last traded at $37.62, with a volume of 172699 shares.
The information services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.17. Momo had a return on equity of 31.92% and a net margin of 21.19%. The firm had revenue of $559.10 million during the quarter, compared to the consensus estimate of $536.45 million. During the same period last year, the company earned $0.53 earnings per share. The company’s revenue was up 44.7% on a year-over-year basis.
The business also recently declared a special dividend, which will be paid on Tuesday, April 30th. Stockholders 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 and other institutional investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. increased its holdings in Momo by 148.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,120 shares of the information services provider’s stock worth $27,000 after buying an additional 670 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in Momo in the 4th quarter worth about $37,000. Advisors Asset Management Inc. increased its holdings in Momo by 76.3% in the 4th quarter. Advisors Asset Management Inc. now owns 1,294 shares of the information services provider’s stock worth $31,000 after buying an additional 560 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in Momo in the 4th quarter worth about $71,000. Finally, DSM Capital Partners LLC increased its holdings in Momo by 152.2% in the 4th quarter. DSM Capital Partners LLC now owns 4,010 shares of the information services provider’s stock worth $96,000 after buying an additional 2,420 shares in the last quarter. Institutional investors own 52.12% of the company’s stock.
The firm has a market capitalization of $7.53 billion, a P/E ratio of 18.99, a PEG ratio of 0.64 and a beta of 2.15.
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Momo Company Profile (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.
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