Elephas Investment Management Ltd acquired a new position in shares of Momo Inc (NASDAQ:MOMO) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 551,976 shares of the information services provider’s stock, valued at approximately $19,761,000. Momo makes up 11.9% of Elephas Investment Management Ltd’s holdings, making the stock its 2nd largest position. Elephas Investment Management Ltd owned 0.28% of Momo at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MOMO. BlackRock Inc. boosted its holdings in shares of Momo by 98.2% during the 1st quarter. BlackRock Inc. now owns 14,872,158 shares of the information services provider’s stock worth $568,712,000 after purchasing an additional 7,367,585 shares during the last quarter. FMR LLC boosted its holdings in shares of Momo by 7.6% during the 1st quarter. FMR LLC now owns 9,578,720 shares of the information services provider’s stock worth $366,291,000 after purchasing an additional 680,061 shares during the last quarter. Pendal Group Ltd boosted its holdings in shares of Momo by 1.2% during the 2nd quarter. Pendal Group Ltd now owns 8,661,812 shares of the information services provider’s stock worth $300,180,000 after purchasing an additional 106,804 shares during the last quarter. Genesis Asset Managers LLP boosted its holdings in shares of Momo by 3.7% during the 2nd quarter. Genesis Asset Managers LLP now owns 5,485,194 shares of the information services provider’s stock worth $196,370,000 after purchasing an additional 197,663 shares during the last quarter. Finally, Krane Funds Advisors LLC boosted its holdings in shares of Momo by 8.1% during the 1st quarter. Krane Funds Advisors LLC now owns 1,960,887 shares of the information services provider’s stock worth $74,984,000 after purchasing an additional 146,948 shares during the last quarter. Institutional investors own 58.69% of the company’s stock.

Several research analysts have recently weighed in on the company. ValuEngine upgraded Momo from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Citigroup upgraded Momo from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $40.00 in a report on Tuesday, May 28th. Nomura boosted their target price on Momo from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. BidaskClub upgraded Momo from a “strong sell” rating to a “sell” rating in a report on Thursday. Finally, Zacks Investment Research upgraded Momo from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $39.91.

NASDAQ MOMO traded up $0.68 on Thursday, reaching $31.95. The stock had a trading volume of 77,913 shares, compared to its average volume of 2,339,673. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 16.30 and a beta of 2.29. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.46. Momo Inc has a 12-month low of $22.85 and a 12-month high of $49.38. The company’s fifty day moving average price is $33.87.

Momo (NASDAQ:MOMO) last announced its earnings results on Tuesday, May 28th. The information services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. The company had revenue of $554.73 million for the quarter, compared to analyst estimates of $531.78 million. Momo had a return on equity of 23.10% and a net margin of 15.96%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. On average, sell-side analysts expect that Momo Inc will post 1.68 earnings per share for the current year.

Momo Company Profile

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 talent shows, short videos, social games, and other video- and audio-based interactive experiences.

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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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