Cubist Systematic Strategies LLC boosted its stake in shares of Momo Inc (NASDAQ:MOMO) by 5,867.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 274,524 shares of the information services provider’s stock after acquiring an additional 269,924 shares during the quarter. Momo accounts for 0.5% of Cubist Systematic Strategies LLC’s holdings, making the stock its 12th largest position. Cubist Systematic Strategies LLC owned approximately 0.14% of Momo worth $8,604,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in MOMO. Geode Capital Management LLC increased its position in shares of Momo by 29.2% in the first quarter. Geode Capital Management LLC now owns 48,645 shares of the information services provider’s stock valued at $1,656,000 after buying an additional 10,989 shares in the last quarter. Aperio Group LLC purchased a new stake in shares of Momo during the second quarter worth approximately $312,000. Great West Life Assurance Co. Can purchased a new stake in shares of Momo during the second quarter worth approximately $1,479,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Momo during the second quarter worth approximately $4,341,000. Finally, World Asset Management Inc purchased a new stake in shares of Momo during the second quarter worth approximately $336,000. Institutional investors own 39.75% of the company’s stock.
MOMO has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on Momo to $30.00 in a research report on Wednesday, November 29th. TheStreet upgraded Momo from a “c+” rating to a “b-” rating in a research report on Monday, December 11th. Zacks Investment Research raised Momo from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Wednesday, October 25th. Jefferies Group reissued a “buy” rating and set a $54.00 price objective on shares of Momo in a research note on Tuesday, October 3rd. Finally, Benchmark lowered their price objective on Momo from $48.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 29th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Momo currently has an average rating of “Buy” and a consensus price target of $41.23.
Momo Inc (MOMO) traded up $1.38 on Tuesday, hitting $25.86. The stock had a trading volume of 3,420,947 shares, compared to its average volume of 5,950,000. Momo Inc has a fifty-two week low of $17.78 and a fifty-two week high of $46.69. The stock has a market cap of $5,140.00 and a P/E ratio of 17.59.
Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, November 28th. The information services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Momo had a return on equity of 36.93% and a net margin of 21.95%. The business had revenue of $354.10 million for the quarter, compared to the consensus estimate of $342.48 million. The business’s revenue was up 125.5% on a year-over-year basis. research analysts expect that Momo Inc will post 1.47 earnings per share for the current fiscal year.
Momo Company Profile
Momo Inc is a holding company. The Company operates Momo, a mobile-based social networking platform. The Company’s Momo platform includes its Momo mobile application and a range of related features, functionalities, tools and services that it provides to users, customers and platform partners. Momo users can maintain their relationships through its private and group communication tools, content creation and sharing functions, as well as the offline social activities promoted on its platform.
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