Momo (MOMO) Stock Price Down 5.6%

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Momo Inc (NASDAQ:MOMO) traded down 5.6% on Monday . The company traded as low as $35.94 and last traded at $35.99. 6,443,965 shares changed hands during mid-day trading, an increase of 67% from the average session volume of 3,855,561 shares. The stock had previously closed at $38.11.

A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Momo from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Zacks Investment Research downgraded shares of Momo from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. Nomura increased their target price on shares of Momo from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. ValuEngine raised shares of Momo from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Morgan Stanley raised shares of Momo from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $33.00 to $44.00 in a research report on Wednesday, March 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Momo has an average rating of “Buy” and a consensus target price of $46.67.

The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.76 and a current ratio of 4.69. The stock has a market cap of $7.24 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 0.63 and a beta of 2.16.

Momo (NASDAQ:MOMO) last posted its earnings results on Tuesday, March 12th. The information services provider reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.17. The firm had revenue of $559.10 million for the quarter, compared to the consensus estimate of $536.45 million. Momo had a net margin of 21.19% and a return on equity of 30.62%. The company’s revenue was up 44.7% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. As a group, analysts predict that Momo Inc will post 2.38 EPS for the current year.

The business also recently announced a special dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be given a $0.62 dividend. The ex-dividend date is Thursday, April 4th.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its position in Momo by 76.3% during the 4th quarter. Advisors Asset Management Inc. now owns 1,294 shares of the information services provider’s stock worth $31,000 after purchasing an additional 560 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Momo by 148.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,120 shares of the information services provider’s stock worth $27,000 after purchasing an additional 670 shares during the last quarter. Elite Wealth Management Inc. grew its position in Momo by 1.3% during the 4th quarter. Elite Wealth Management Inc. now owns 56,347 shares of the information services provider’s stock worth $1,338,000 after purchasing an additional 741 shares during the last quarter. DAVENPORT & Co LLC grew its position in Momo by 8.8% during the 4th quarter. DAVENPORT & Co LLC now owns 10,580 shares of the information services provider’s stock worth $251,000 after purchasing an additional 860 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in Momo during the 4th quarter worth $37,000. 52.62% of the stock is currently owned by hedge funds and other institutional investors.

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About Momo (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.

Read More: Special Dividends

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