Prime Capital Management Co Ltd Has $72.76 Million Position in Momo Inc. (MOMO)

Prime Capital Management Co Ltd lessened its holdings in Momo Inc. (NASDAQ:MOMO) by 50.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,321,709 shares of the information services provider’s stock after selling 2,346,088 shares during the period. Momo comprises 36.2% of Prime Capital Management Co Ltd’s investment portfolio, making the stock its 2nd biggest holding. Prime Capital Management Co Ltd owned 1.19% of Momo worth $72,762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Momo by 23.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 24,400 shares of the information services provider’s stock worth $765,000 after acquiring an additional 4,700 shares during the last quarter. Granite Point Capital Management L.P. acquired a new stake in shares of Momo in the 3rd quarter worth about $1,025,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Momo by 20.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 175,800 shares of the information services provider’s stock worth $5,533,000 after acquiring an additional 29,700 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Momo by 53.3% in the 3rd quarter. Stifel Financial Corp now owns 45,712 shares of the information services provider’s stock worth $1,432,000 after acquiring an additional 15,892 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Momo in the 3rd quarter worth about $710,000. Institutional investors own 40.60% of the company’s stock.

Shares of Momo Inc. (NASDAQ MOMO) opened at $23.84 on Wednesday. The company has a market cap of $4,387.33, a PE ratio of 15.24 and a beta of 1.55. Momo Inc. has a one year low of $16.73 and a one year high of $46.69.

Momo (NASDAQ:MOMO) last posted its quarterly earnings data on Tuesday, November 28th. The information services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. The firm had revenue of $354.10 million during the quarter, compared to analyst estimates of $342.48 million. Momo had a net margin of 25.88% and a return on equity of 39.60%. The business’s revenue for the quarter was up 125.5% on a year-over-year basis. analysts expect that Momo Inc. will post 1.45 earnings per share for the current year.

A number of equities research analysts recently weighed in on MOMO shares. Zacks Investment Research upgraded shares of Momo from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, October 25th. Goldman Sachs Group started coverage on shares of Momo in a report on Wednesday, August 30th. They issued a “buy” rating and a $56.00 target price on the stock. Vetr lowered shares of Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 target price on the stock. in a report on Monday, September 4th. Jefferies Group restated a “buy” rating and issued a $54.00 target price on shares of Momo in a report on Tuesday, October 3rd. Finally, Standpoint Research started coverage on shares of Momo in a report on Wednesday, August 30th. They issued a “buy” rating and a $44.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.23.

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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.

Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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