D.A. Davidson & CO. Buys 2,785 Shares of Momo Inc (MOMO)

D.A. Davidson & CO. grew its stake in Momo Inc (NASDAQ:MOMO) by 32.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,367 shares of the information services provider’s stock after buying an additional 2,785 shares during the quarter. D.A. Davidson & CO.’s holdings in Momo were worth $270,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Elite Wealth Management Inc. boosted its stake in shares of Momo by 1.3% in the 4th quarter. Elite Wealth Management Inc. now owns 56,347 shares of the information services provider’s stock valued at $1,338,000 after buying an additional 741 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Momo by 8.8% in the 4th quarter. DAVENPORT & Co LLC now owns 10,580 shares of the information services provider’s stock valued at $251,000 after buying an additional 860 shares during the period. AMP Capital Investors Ltd boosted its stake in shares of Momo by 24.9% in the 3rd quarter. AMP Capital Investors Ltd now owns 10,261 shares of the information services provider’s stock valued at $454,000 after buying an additional 2,043 shares during the period. Todd Asset Management LLC boosted its stake in shares of Momo by 0.6% in the 3rd quarter. Todd Asset Management LLC now owns 360,608 shares of the information services provider’s stock valued at $15,795,000 after buying an additional 2,157 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its stake in shares of Momo by 11.0% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 22,134 shares of the information services provider’s stock valued at $969,000 after buying an additional 2,200 shares during the period. Institutional investors and hedge funds own 54.94% of the company’s stock.

Several equities analysts have recently issued reports on the company. BidaskClub cut Momo from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded Momo from a “sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Nomura decreased their target price on Momo from $55.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, December 7th. UBS Group set a $35.00 target price on Momo and gave the stock a “buy” rating in a research note on Tuesday, December 11th. Finally, Citigroup cut Momo from a “buy” rating to a “neutral” rating in a research note on Friday, December 7th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Momo has an average rating of “Buy” and a consensus price target of $44.97.

MOMO stock opened at $29.67 on Tuesday. The company has a market cap of $5.82 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 0.53 and a beta of 2.15. Momo Inc has a fifty-two week low of $22.85 and a fifty-two week high of $54.24.

Momo (NASDAQ:MOMO) last posted its earnings results on Wednesday, December 5th. The information services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. The firm had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $535.30 million. Momo had a return on equity of 33.77% and a net margin of 23.24%. The firm’s revenue was up 51.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, analysts forecast that Momo Inc will post 1.95 EPS for the current year.

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About 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.

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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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