Credit Suisse AG Buys 139,791 Shares of Momo Inc (MOMO)

Credit Suisse AG grew its stake in shares of Momo Inc (NASDAQ:MOMO) by 39.9% during the third quarter, Holdings Channel reports. The institutional investor owned 490,377 shares of the information services provider’s stock after purchasing an additional 139,791 shares during the quarter. Credit Suisse AG’s holdings in Momo were worth $21,477,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. OLD National Bancorp IN bought a new position in shares of Momo during the third quarter valued at about $201,000. Engineers Gate Manager LP bought a new position in shares of Momo during the third quarter valued at about $201,000. WINTON GROUP Ltd bought a new position in shares of Momo during the third quarter valued at about $211,000. Liberty Mutual Group Asset Management Inc. bought a new position in shares of Momo during the second quarter valued at about $213,000. Finally, MML Investors Services LLC bought a new position in shares of Momo during the third quarter valued at about $217,000. 53.23% of the stock is currently owned by hedge funds and other institutional investors.

Momo stock opened at $31.35 on Monday. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.21. The stock has a market cap of $6.25 billion, a PE ratio of 20.49, a PEG ratio of 0.64 and a beta of 1.88. Momo Inc has a 1-year low of $22.49 and a 1-year high of $54.24.

A number of research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $58.00 price objective on shares of Momo in a research note on Thursday, November 22nd. TH Capital reduced their price objective on Momo to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. ValuEngine cut Momo from a “hold” rating to a “sell” rating in a research note on Saturday, November 10th. 86 Research raised Momo from a “hold” rating to a “buy” rating in a research note on Friday, November 9th. Finally, BidaskClub raised Momo from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $50.07.

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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.

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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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