Tiger Pacific Capital LP boosted its holdings in Momo Inc (NASDAQ:MOMO) by 41.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 554,430 shares of the information services provider’s stock after acquiring an additional 161,333 shares during the quarter. Momo accounts for about 12.5% of Tiger Pacific Capital LP’s investment portfolio, making the stock its 4th largest position. Tiger Pacific Capital LP owned 0.28% of Momo worth $24,284,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MOMO. Gulf International Bank UK Ltd increased its position in shares of Momo by 27.4% during the 3rd quarter. Gulf International Bank UK Ltd now owns 37,200 shares of the information services provider’s stock valued at $1,629,000 after purchasing an additional 8,000 shares during the last quarter. British Airways Pensions Investment Management Ltd bought a new position in shares of Momo during the 3rd quarter valued at about $5,199,000. Virginia Retirement Systems ET AL increased its position in shares of Momo by 5.1% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 53,900 shares of the information services provider’s stock valued at $2,361,000 after purchasing an additional 2,600 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Momo during the 3rd quarter valued at about $211,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Momo during the 3rd quarter valued at about $321,000. Institutional investors and hedge funds own 53.48% of the company’s stock.
MOMO has been the topic of several recent research reports. ValuEngine lowered Momo from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. BidaskClub lowered Momo from a “hold” rating to a “sell” rating in a research report on Friday, July 13th. Finally, Standpoint Research upgraded Momo from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $49.41.
Momo (NASDAQ:MOMO) last issued its earnings results on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $494.27 million during the quarter, compared to analysts’ expectations of $479.37 million. Momo had a return on equity of 37.12% and a net margin of 25.40%. Momo’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. Analysts anticipate that Momo Inc will post 2.19 EPS for the current year.
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Momo Company 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 videos, short videos, social games, and other video- and audio-based interactive experiences.
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