AMP Capital Investors Ltd Acquires 4,055 Shares of Momo Inc (MOMO)

AMP Capital Investors Ltd increased its position in Momo Inc (NASDAQ:MOMO) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,455 shares of the information services provider’s stock after purchasing an additional 4,055 shares during the quarter. AMP Capital Investors Ltd’s holdings in Momo were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Virginia Retirement Systems ET AL boosted its stake in shares of Momo by 5.3% in the third quarter. Virginia Retirement Systems ET AL now owns 37,900 shares of the information services provider’s stock valued at $1,188,000 after purchasing an additional 1,900 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Momo by 22.1% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,871 shares of the information services provider’s stock valued at $282,000 after purchasing an additional 1,971 shares during the period. Boothbay Fund Management LLC boosted its stake in shares of Momo by 11.4% in the third quarter. Boothbay Fund Management LLC now owns 26,000 shares of the information services provider’s stock valued at $815,000 after purchasing an additional 2,657 shares during the period. Aperio Group LLC boosted its stake in shares of Momo by 40.1% in the third quarter. Aperio Group LLC now owns 11,831 shares of the information services provider’s stock valued at $371,000 after purchasing an additional 3,388 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Momo by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 139,811 shares of the information services provider’s stock valued at $3,422,000 after purchasing an additional 3,840 shares during the period. Institutional investors and hedge funds own 38.45% of the company’s stock.

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Momo stock opened at $38.90 on Friday. Momo Inc has a 52 week low of $22.49 and a 52 week high of $46.69. The company has a market cap of $7,749.39, a price-to-earnings ratio of 25.26 and a beta of 1.68.

Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Wednesday, March 7th. The information services provider reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.11. Momo had a net margin of 24.17% and a return on equity of 36.58%. The firm had revenue of $386.40 million for the quarter, compared to the consensus estimate of $381.17 million. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s revenue was up 57.0% compared to the same quarter last year. sell-side analysts expect that Momo Inc will post 1.95 EPS for the current year.

Several research analysts have recently weighed in on the stock. Bank of America upped their target price on shares of Momo from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, March 19th. Deutsche Bank set a $46.00 target price on shares of Momo and gave the company a “buy” rating in a research note on Wednesday, March 7th. Vetr downgraded shares of Momo from a “strong-buy” rating to a “buy” rating and set a $40.05 target price for the company. in a research note on Thursday, March 8th. BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Finally, Zacks Investment Research upgraded shares of Momo from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Momo has a consensus rating of “Buy” and an average price target of $42.08.

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About Momo

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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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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