Momo Inc (NASDAQ:MOMO) Holdings Increased by Pendal Group Ltd

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Pendal Group Ltd boosted its position in Momo Inc (NASDAQ:MOMO) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,661,812 shares of the information services provider’s stock after purchasing an additional 106,804 shares during the quarter. Momo comprises 4.2% of Pendal Group Ltd’s investment portfolio, making the stock its 6th biggest position. Pendal Group Ltd owned about 4.35% of Momo worth $300,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Gravity Wealth Inc. purchased a new stake in shares of Momo during the 1st quarter valued at $25,000. Quadrant Capital Group LLC raised its position in shares of Momo by 21.5% during the 1st quarter. Quadrant Capital Group LLC now owns 1,694 shares of the information services provider’s stock valued at $64,000 after buying an additional 300 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Momo by 55.6% during the 1st quarter. Advisors Asset Management Inc. now owns 2,014 shares of the information services provider’s stock valued at $77,000 after buying an additional 720 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Momo by 242.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,830 shares of the information services provider’s stock valued at $146,000 after buying an additional 2,710 shares in the last quarter. Finally, NumerixS Investment Technologies Inc raised its position in shares of Momo by 44.8% during the 1st quarter. NumerixS Investment Technologies Inc now owns 4,200 shares of the information services provider’s stock valued at $158,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 58.69% of the company’s stock.

Several research firms have recently weighed in on MOMO. ValuEngine upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Nomura raised their price objective on shares of Momo from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Citigroup upgraded shares of Momo from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $40.00 in a research report on Tuesday, May 28th. Zacks Investment Research upgraded shares of Momo from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, BidaskClub cut shares of Momo from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $39.91.

NASDAQ:MOMO traded up $1.31 during trading hours on Tuesday, reaching $32.70. The company’s stock had a trading volume of 167,262 shares, compared to its average volume of 2,339,594. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 16.79 and a beta of 2.29. The firm’s 50-day moving average price is $33.94. Momo Inc has a 1 year low of $22.85 and a 1 year high of $49.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 4.24 and a quick ratio of 4.24.

Momo (NASDAQ:MOMO) last issued its 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 company had revenue of $554.73 million for 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 firm’s revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. Research analysts expect that Momo Inc will post 1.68 EPS for the current year.

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 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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