Phoenix Holdings Ltd. raised its stake in Momo Inc (NASDAQ:MOMO) by 56.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,519 shares of the information services provider’s stock after acquiring an additional 24,497 shares during the period. Phoenix Holdings Ltd.’s holdings in Momo were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Marathon Asset Management LLP acquired a new stake in shares of Momo during the second quarter worth about $49,000. US Bancorp DE boosted its stake in shares of Momo by 14.7% during the first quarter. US Bancorp DE now owns 6,755 shares of the information services provider’s stock worth $147,000 after buying an additional 868 shares during the period. FDx Advisors Inc. acquired a new stake in shares of Momo during the first quarter worth about $166,000. Leap Investments LP acquired a new stake in shares of Momo during the second quarter worth about $182,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in Momo during the second quarter worth about $191,000. Institutional investors own 54.99% of the company’s stock.
MOMO has been the subject of several analyst reports. Nomura Instinet reissued a “neutral” rating on shares of Momo in a report on Friday, May 29th. ValuEngine cut shares of Momo from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. BidaskClub raised shares of Momo from a “strong sell” rating to a “sell” rating in a report on Friday, August 7th. UBS Group cut their price target on shares of Momo from $34.00 to $33.50 and set a “buy” rating for the company in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Momo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, June 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Momo currently has a consensus rating of “Hold” and a consensus target price of $31.92.
Momo stock traded down $0.11 during mid-day trading on Thursday, reaching $20.51. The company had a trading volume of 108,571 shares, compared to its average volume of 3,152,815. Momo Inc has a 1 year low of $16.61 and a 1 year high of $40.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.68 and a quick ratio of 4.68. The company has a market capitalization of $4.45 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.98 and a beta of 1.67. The stock’s 50-day simple moving average is $19.21 and its 200-day simple moving average is $22.64.
Momo (NASDAQ:MOMO) last issued its earnings results on Thursday, May 28th. The information services provider reported $3.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $3.00. Momo had a net margin of 19.07% and a return on equity of 25.51%. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities analysts forecast that Momo Inc will post 1.72 EPS for the current fiscal year.
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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