Korea Investment CORP Boosts Holdings in Momo Inc (MOMO)

Korea Investment CORP raised its stake in Momo Inc (NASDAQ:MOMO) by 88.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 211,000 shares of the information services provider’s stock after buying an additional 98,900 shares during the quarter. Korea Investment CORP’s holdings in Momo were worth $9,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MOMO. BlackRock Inc. boosted its stake in shares of Momo by 3.4% in the 2nd quarter. BlackRock Inc. now owns 6,672,385 shares of the information services provider’s stock valued at $290,249,000 after purchasing an additional 219,866 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Momo by 104.8% in the 2nd quarter. Renaissance Technologies LLC now owns 4,494,700 shares of the information services provider’s stock valued at $195,519,000 after purchasing an additional 2,300,100 shares during the last quarter. Morgan Stanley boosted its stake in shares of Momo by 3.7% in the 2nd quarter. Morgan Stanley now owns 2,050,368 shares of the information services provider’s stock valued at $89,191,000 after purchasing an additional 72,564 shares during the last quarter. Sylebra HK Co Ltd boosted its stake in shares of Momo by 194.9% in the 2nd quarter. Sylebra HK Co Ltd now owns 1,547,969 shares of the information services provider’s stock valued at $67,337,000 after purchasing an additional 1,022,971 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Momo by 11.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 883,018 shares of the information services provider’s stock valued at $38,444,000 after purchasing an additional 88,142 shares during the last quarter. Hedge funds and other institutional investors own 53.23% of the company’s stock.

Several research analysts have recently issued reports on MOMO shares. 86 Research raised shares of Momo from a “hold” rating to a “buy” rating in a research note on Friday, November 9th. ValuEngine raised shares of Momo from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. TH Capital reduced their target price on shares of Momo to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $58.00 target price on shares of Momo in a research note on Thursday, November 22nd. Finally, BidaskClub raised shares of Momo from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. Momo currently has a consensus rating of “Buy” and an average target price of $50.07.

Momo stock opened at $31.35 on Friday. Momo Inc has a fifty-two week low of $22.49 and a fifty-two week high of $54.24. The company has a market cap of $6.25 billion, a P/E ratio of 15.37, a PEG ratio of 0.64 and a beta of 1.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.46 and a current ratio of 3.46.

TRADEMARK VIOLATION NOTICE: “Korea Investment CORP Boosts Holdings in Momo Inc (MOMO)” was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://www.com-unik.info/2018/12/02/korea-investment-corp-boosts-holdings-in-momo-inc-momo.html.

Momo 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.

Recommended Story: Trading Penny Stocks

Want to see what other hedge funds are holding MOMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Momo Inc (NASDAQ:MOMO).

Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

Receive News & Ratings for Momo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momo and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit