Kassirer Asset Management Corp acquired a new stake in shares of Momo Inc (NASDAQ:MOMO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 60,000 shares of the company’s stock, valued at approximately $607,000.
Other hedge funds have also added to or reduced their stakes in the company. Pacad Investment Ltd. acquired a new stake in Momo during the first quarter valued at $423,000. BlackRock Fund Advisors raised its stake in Momo by 9.5% in the first quarter. BlackRock Fund Advisors now owns 60,379 shares of the company’s stock valued at $679,000 after buying an additional 5,236 shares during the period. Tairen Capital Ltd raised its stake in Momo by 488.0% in the first quarter. Tairen Capital Ltd now owns 88,200 shares of the company’s stock valued at $991,000 after buying an additional 73,200 shares during the period. State Street Corp raised its stake in Momo by 41.3% in the first quarter. State Street Corp now owns 36,157 shares of the company’s stock valued at $406,000 after buying an additional 10,577 shares during the period. Finally, Geode Capital Management LLC raised its stake in Momo by 24.4% in the first quarter. Geode Capital Management LLC now owns 18,305 shares of the company’s stock valued at $205,000 after buying an additional 3,592 shares during the period.
Momo Inc (NASDAQ:MOMO) traded down 1.13% during trading on Thursday, hitting $22.80. The company had a trading volume of 2,177,899 shares. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 162.86 and a beta of 2.05. Momo Inc has a 1-year low of $6.72 and a 1-year high of $25.62. The company’s 50 day moving average price is $21.11 and its 200-day moving average price is $15.19.
Momo (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, August 16th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $99 million for the quarter, compared to the consensus estimate of $30.70 million. On average, analysts expect that Momo Inc will post $0.47 EPS for the current year.
MOMO has been the topic of several research analyst reports. Zacks Investment Research raised Momo from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. started coverage on Momo in a research note on Wednesday, August 31st. They set an “overweight” rating on the stock. Morgan Stanley raised Momo from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $12.70 to $28.00 in a research note on Tuesday, September 6th. Finally, Credit Suisse Group AG started coverage on Momo in a research note on Wednesday, September 14th. They set an “outperform” rating and a $29.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Momo currently has an average rating of “Buy” and a consensus target price of $28.00.
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.
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