23,500 Shares in Momo Inc (MOMO) Purchased by TCW Group Inc.

TCW Group Inc. bought a new stake in Momo Inc (NASDAQ:MOMO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,500 shares of the information services provider’s stock, valued at approximately $1,029,000.

A number of other institutional investors also recently modified their holdings of MOMO. Acadian Asset Management LLC acquired a new stake in Momo in the second quarter valued at approximately $167,114,000. Renaissance Technologies LLC boosted its position in Momo by 104.8% in the second quarter. Renaissance Technologies LLC now owns 4,494,700 shares of the information services provider’s stock valued at $195,519,000 after buying an additional 2,300,100 shares in the last quarter. Sylebra HK Co Ltd boosted its position in Momo by 194.9% in the second quarter. Sylebra HK Co Ltd now owns 1,547,969 shares of the information services provider’s stock valued at $67,337,000 after buying an additional 1,022,971 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd acquired a new stake in Momo in the second quarter valued at approximately $44,430,000. Finally, Elephas Investment Management Ltd acquired a new stake in Momo in the second quarter valued at approximately $27,070,000. Hedge funds and other institutional investors own 53.32% of the company’s stock.

MOMO has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Momo from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Standpoint Research upgraded shares of Momo from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research lowered shares of Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Momo presently has a consensus rating of “Buy” and an average target price of $49.41.

Shares of NASDAQ:MOMO opened at $35.41 on Friday. The firm has a market cap of $7.05 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 0.70 and a beta of 1.88. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 0.21. Momo Inc has a 52 week low of $22.49 and a 52 week high of $54.24.

Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Wednesday, August 22nd. The information services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $494.27 million for the quarter, compared to analyst estimates of $479.37 million. Momo had a net margin of 25.40% and a return on equity of 37.12%. Momo’s revenue was up 58.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. Equities analysts anticipate that Momo Inc will post 2.19 earnings per share for the current year.

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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