Mckinley Capital Management LLC Delaware lessened its holdings in shares of Momo Inc. (NASDAQ:MOMO) by 49.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,406 shares of the information services provider’s stock after selling 45,139 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Momo were worth $1,423,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HighTower Advisors LLC increased its position in Momo by 6.3% during the 2nd quarter. HighTower Advisors LLC now owns 8,605 shares of the information services provider’s stock worth $316,000 after purchasing an additional 513 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in Momo by 5.3% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 37,900 shares of the information services provider’s stock worth $1,188,000 after purchasing an additional 1,900 shares in the last quarter. Profund Advisors LLC increased its position in Momo by 9.6% during the 2nd quarter. Profund Advisors LLC now owns 24,268 shares of the information services provider’s stock worth $897,000 after purchasing an additional 2,134 shares in the last quarter. Rational Advisors LLC increased its position in Momo by 108.7% during the 3rd quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock worth $150,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Momo during the 2nd quarter worth approximately $101,000. 40.54% of the stock is owned by hedge funds and other institutional investors.

Shares of Momo Inc. (NASDAQ:MOMO) opened at $22.56 on Friday. Momo Inc. has a 1 year low of $16.73 and a 1 year high of $46.69. The stock has a market cap of $4,667.38, a P/E ratio of 16.22 and a beta of 1.58.

Momo (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, November 28th. The information services provider reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.07. Momo had a net margin of 25.88% and a return on equity of 39.60%. The company had revenue of $354.10 million during the quarter, compared to the consensus estimate of $342.48 million. The business’s revenue for the quarter was up 125.5% compared to the same quarter last year. research analysts predict that Momo Inc. will post 1.45 earnings per share for the current fiscal year.

A number of analysts recently issued reports on MOMO shares. Zacks Investment Research raised shares of Momo from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, October 25th. Goldman Sachs Group started coverage on shares of Momo in a research report on Wednesday, August 30th. They set a “buy” rating and a $56.00 target price for the company. Vetr downgraded shares of Momo from a “strong-buy” rating to a “buy” rating and set a $42.25 target price for the company. in a research report on Monday, September 4th. Jefferies Group reissued a “buy” rating and set a $54.00 target price on shares of Momo in a research report on Tuesday, October 3rd. Finally, Standpoint Research started coverage on shares of Momo in a research report on Wednesday, August 30th. They set a “buy” rating and a $44.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Momo currently has an average rating of “Buy” and a consensus price target of $41.23.

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About Momo

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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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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