Renaissance Technologies LLC increased its position in shares of Momo Inc. (NASDAQ:MOMO) by 126.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,741,300 shares of the information services provider’s stock after buying an additional 972,300 shares during the period. Renaissance Technologies LLC’s holdings in Momo were worth $59,326,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in Momo during the fourth quarter worth about $9,408,000. FIL Ltd increased its position in Momo by 31.4% in the fourth quarter. FIL Ltd now owns 354,854 shares of the information services provider’s stock worth $6,522,000 after buying an additional 84,825 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Momo during the fourth quarter worth about $341,000. Light Street Capital Management LLC bought a new position in Momo during the fourth quarter worth about $45,950,000. Finally, GLG Partners LP increased its position in Momo by 91.0% in the fourth quarter. GLG Partners LP now owns 80,563 shares of the information services provider’s stock worth $1,481,000 after buying an additional 38,375 shares during the last quarter. Institutional investors own 40.18% of the company’s stock.
Momo Inc. (NASDAQ:MOMO) traded up 1.4314% on Friday, reaching $36.8399. 268,937 shares of the company’s stock traded hands. The company has a market cap of $7.18 billion, a PE ratio of 34.1110 and a beta of 1.86. The firm’s 50 day moving average price is $39.21 and its 200 day moving average price is $29.87. Momo Inc. has a 12 month low of $8.88 and a 12 month high of $45.95.
Momo (NASDAQ:MOMO) last announced its earnings results on Tuesday, May 23rd. The information services provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.12. Momo had a net margin of 28.59% and a return on equity of 36.36%. The firm had revenue of $265.20 million for the quarter, compared to analysts’ expectations of $245.48 million. The business’s revenue for the quarter was up 421.0% on a year-over-year basis. On average, equities analysts expect that Momo Inc. will post $1.57 EPS for the current fiscal year.
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A number of research analysts recently issued reports on MOMO shares. Vetr downgraded shares of Momo from a “buy” rating to a “hold” rating and set a $27.74 target price on the stock. in a research report on Monday, February 20th. Morgan Stanley reiterated an “overweight” rating and set a $34.00 target price on shares of Momo in a research report on Monday, February 27th. Zacks Investment Research upgraded shares of Momo from a “hold” rating to a “strong-buy” rating and set a $39.00 target price on the stock in a research report on Thursday, March 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $38.00 target price on shares of Momo in a research report on Sunday, April 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $39.82.
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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