Momo Inc (MOMO) Stake Lowered by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in shares of Momo Inc (NASDAQ:MOMO) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 253,940 shares of the information services provider’s stock after selling 2,430 shares during the period. Geode Capital Management LLC’s holdings in Momo were worth $6,189,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MOMO. Arrowstreet Capital Limited Partnership raised its position in shares of Momo by 362.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,705,009 shares of the information services provider’s stock valued at $66,219,000 after purchasing an additional 2,119,450 shares during the period. Boston Partners bought a new stake in shares of Momo during the 4th quarter valued at $39,239,000. KEYWISE CAPITAL MANAGEMENT Ltd raised its position in shares of Momo by 565.0% during the 4th quarter. KEYWISE CAPITAL MANAGEMENT Ltd now owns 1,286,800 shares of the information services provider’s stock valued at $31,501,000 after purchasing an additional 1,093,300 shares during the period. Capital Fund Management S.A. raised its position in shares of Momo by 51.6% during the 4th quarter. Capital Fund Management S.A. now owns 2,144,602 shares of the information services provider’s stock valued at $52,500,000 after purchasing an additional 729,818 shares during the period. Finally, First Manhattan Co. bought a new stake in shares of Momo during the 4th quarter valued at $13,977,000. Hedge funds and other institutional investors own 38.35% of the company’s stock.

How to Become a New Pot Stock Millionaire

Shares of NASDAQ MOMO opened at $34.39 on Tuesday. The firm has a market capitalization of $6,906.71, a price-to-earnings ratio of 22.48 and a beta of 1.54. Momo Inc has a 52-week low of $22.49 and a 52-week high of $46.69.

Momo (NASDAQ:MOMO) last announced its quarterly earnings results on Wednesday, March 7th. The information services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. The company had revenue of $386.40 million for the quarter, compared to the consensus estimate of $381.17 million. Momo had a net margin of 24.17% and a return on equity of 36.58%. Momo’s revenue for the quarter was up 57.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. equities research analysts predict that Momo Inc will post 1.94 earnings per share for the current year.

MOMO has been the topic of several recent analyst reports. JPMorgan Chase upgraded shares of Momo from a “neutral” rating to an “overweight” rating in a research report on Friday, January 26th. Zacks Investment Research downgraded shares of Momo from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. UBS initiated coverage on shares of Momo in a research report on Tuesday, January 2nd. They set a “hold” rating and a $28.00 price objective on the stock. BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, Jefferies Group restated a “buy” rating and set a $45.00 price objective on shares of Momo in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $43.35.

ILLEGAL ACTIVITY WARNING: “Momo Inc (MOMO) Stake Lowered by Geode Capital Management LLC” was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright and trademark law. The correct version of this piece can be viewed at https://www.chaffeybreeze.com/2018/04/17/momo-inc-momo-stake-lowered-by-geode-capital-management-llc.html.

Momo 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.

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.

Leave a Reply