Todd Asset Management LLC Acquires 1,432 Shares of Momo Inc (NASDAQ:MOMO)

Todd Asset Management LLC grew its holdings in shares of Momo Inc (NASDAQ:MOMO) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 388,778 shares of the information services provider’s stock after acquiring an additional 1,432 shares during the period. Todd Asset Management LLC owned about 0.20% of Momo worth $13,918,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in Momo by 21.5% during the first quarter. Quadrant Capital Group LLC now owns 1,694 shares of the information services provider’s stock worth $64,000 after buying an additional 300 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Momo by 55.6% during the first quarter. Advisors Asset Management Inc. now owns 2,014 shares of the information services provider’s stock worth $77,000 after buying an additional 720 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Momo by 242.0% during the first quarter. Daiwa Securities Group Inc. now owns 3,830 shares of the information services provider’s stock worth $146,000 after buying an additional 2,710 shares during the last quarter. NumerixS Investment Technologies Inc raised its stake in Momo by 44.8% during the first quarter. NumerixS Investment Technologies Inc now owns 4,200 shares of the information services provider’s stock worth $158,000 after buying an additional 1,300 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Momo during the first quarter worth $204,000. 59.50% of the stock is owned by hedge funds and other institutional investors.

MOMO has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Momo from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 24th. BidaskClub upgraded shares of Momo from a “strong sell” rating to a “sell” rating in a report on Thursday, August 15th. ValuEngine upgraded shares of Momo from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Citigroup upgraded shares of Momo from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $40.00 in a report on Tuesday, May 28th. Finally, Nomura raised their price target on shares of Momo from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Momo has a consensus rating of “Buy” and an average price target of $39.91.

NASDAQ:MOMO traded down $1.06 during trading hours on Friday, reaching $31.83. The company had a trading volume of 2,886,123 shares, compared to its average volume of 2,228,237. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.46. The firm has a market cap of $6.55 billion, a price-to-earnings ratio of 16.24 and a beta of 2.29. The business’s 50-day simple moving average is $33.37 and its two-hundred day simple moving average is $33.50. Momo Inc has a twelve month low of $22.85 and a twelve month high of $49.38.

Momo (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, May 28th. The information services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. The business had revenue of $554.73 million during the quarter, compared to analysts’ expectations of $531.78 million. Momo had a net margin of 15.96% and a return on equity of 23.10%. The business’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period last year, the company posted $0.69 earnings per share. As a group, equities analysts predict that Momo Inc will post 1.68 earnings per share for the current year.

Momo 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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