Dalton Investments LLC Makes New $18.54 Million Investment in Momo Inc (NASDAQ:MOMO)

Dalton Investments LLC purchased a new position in shares of Momo Inc (NASDAQ:MOMO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 517,882 shares of the information services provider’s stock, valued at approximately $18,540,000. Momo comprises about 8.4% of Dalton Investments LLC’s portfolio, making the stock its 4th biggest position. Dalton Investments LLC owned 0.26% of Momo at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. US Bancorp DE boosted its position in Momo by 5.9% during the 2nd quarter. US Bancorp DE now owns 6,223 shares of the information services provider’s stock worth $223,000 after acquiring an additional 349 shares during the last quarter. Advisor Group Inc. boosted its position in Momo by 2.5% during the 2nd quarter. Advisor Group Inc. now owns 15,403 shares of the information services provider’s stock worth $551,000 after acquiring an additional 375 shares during the last quarter. First Hawaiian Bank boosted its position in Momo by 7.1% during the 2nd quarter. First Hawaiian Bank now owns 6,501 shares of the information services provider’s stock worth $233,000 after acquiring an additional 431 shares during the last quarter. Shell Asset Management Co. boosted its position in Momo by 0.9% during the 1st quarter. Shell Asset Management Co. now owns 52,835 shares of the information services provider’s stock worth $2,020,000 after acquiring an additional 467 shares during the last quarter. Finally, Lenox Wealth Management Inc. boosted its position in Momo by 2.2% during the 2nd quarter. Lenox Wealth Management Inc. now owns 23,017 shares of the information services provider’s stock worth $824,000 after acquiring an additional 487 shares during the last quarter. 61.05% of the stock is owned by hedge funds and other institutional investors.

Shares of Momo stock opened at $34.75 on Friday. Momo Inc has a 12-month low of $22.85 and a 12-month high of $49.38. The stock has a market cap of $6.91 billion, a P/E ratio of 17.73 and a beta of 2.25. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $33.64 and its 200-day moving average is $33.95.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, August 27th. The information services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.07). Momo had a return on equity of 21.74% and a net margin of 14.68%. The company had revenue of $604.90 million for the quarter, compared to the consensus estimate of $584.68 million. During the same quarter in the prior year, the company earned $0.66 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, sell-side analysts expect that Momo Inc will post 1.51 EPS for the current year.

A number of brokerages have recently issued reports on MOMO. Jefferies Financial Group began coverage on Momo in a research note on Monday, August 5th. They set a “buy” rating and a $40.40 price objective on the stock. ValuEngine upgraded Momo from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Citigroup upgraded Momo from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $40.00 in a research note on Tuesday, May 28th. Zacks Investment Research cut Momo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 3rd. Finally, BidaskClub upgraded Momo from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Momo has an average rating of “Buy” and an average target price of $39.91.

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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