Momo Target of Unusually High Options Trading (MOMO)
Momo Inc. (NASDAQ:MOMO) was the recipient of some unusual options trading on Monday. Traders purchased 12,576 call options on the stock. This is an increase of 247% compared to the typical daily volume of 3,619 call options.
Several hedge funds have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of Momo by 818.0% in the first quarter. Morgan Stanley now owns 11,834,761 shares of the information services provider’s stock valued at $403,211,000 after buying an additional 10,545,573 shares during the last quarter. Light Street Capital Management LLC boosted its stake in shares of Momo by 23.1% in the second quarter. Light Street Capital Management LLC now owns 4,800,000 shares of the information services provider’s stock valued at $177,408,000 after buying an additional 900,000 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Momo by 113.3% in the second quarter. Acadian Asset Management LLC now owns 4,264,640 shares of the information services provider’s stock valued at $157,624,000 after buying an additional 2,265,665 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of Momo during the first quarter valued at about $132,531,000. Finally, Tairen Capital Ltd boosted its stake in shares of Momo by 194.7% in the first quarter. Tairen Capital Ltd now owns 3,663,687 shares of the information services provider’s stock valued at $124,822,000 after buying an additional 2,420,520 shares during the last quarter. Institutional investors and hedge funds own 43.47% of the company’s stock.
Shares of Momo (NASDAQ MOMO) opened at 35.59 on Friday. The firm has a 50-day moving average price of $42.48 and a 200 day moving average price of $37.03. Momo has a 12-month low of $16.73 and a 12-month high of $46.69. The company has a market capitalization of $6.94 billion, a P/E ratio of 32.95 and a beta of 1.91.
Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, August 22nd. The information services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $312.20 million for the quarter, compared to analysts’ expectations of $287.84 million. Momo had a return on equity of 38.94% and a net margin of 27.00%. Momo’s revenue was up 31120.0% on a year-over-year basis. On average, equities research analysts predict that Momo will post $1.62 earnings per share for the current year.
Several equities analysts have recently issued reports on MOMO shares. Deutsche Bank AG raised Momo from a “hold” rating to a “buy” rating and boosted their target price for the company from $30.00 to $52.00 in a research note on Wednesday, May 24th. Vetr raised Momo from a “buy” rating to a “strong-buy” rating and set a $42.83 target price on the stock in a research note on Wednesday, May 10th. J P Morgan Chase & Co cut Momo from an “overweight” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Wednesday, May 24th. BOCOM International Holdings started coverage on Momo in a research note on Monday, May 8th. They set a “buy” rating and a $46.00 target price on the stock. Finally, Zacks Investment Research cut Momo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $39.95.
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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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