Zurcher Kantonalbank Zurich Cantonalbank Sells 59,933 Shares of Momo Inc (MOMO)
Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Momo Inc (NASDAQ:MOMO) by 59.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,297 shares of the information services provider’s stock after selling 59,933 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Momo were worth $986,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Rational Advisors LLC increased its holdings in shares of Momo by 108.7% during the third 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 during the period. Exane Derivatives bought a new position in shares of Momo during the third quarter worth approximately $194,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Momo by 213.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the information services provider’s stock worth $184,000 after purchasing an additional 5,125 shares during the period. Caxton Associates LP bought a new position in shares of Momo during the third quarter worth approximately $254,000. Finally, Eqis Capital Management Inc. bought a new position in shares of Momo during the third quarter worth approximately $256,000. 40.07% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on the stock. BidaskClub raised shares of Momo from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Zacks Investment Research raised shares of Momo from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Jefferies Group reissued a “buy” rating and issued a $45.00 price objective on shares of Momo in a research note on Wednesday, January 24th. Benchmark decreased their price objective on shares of Momo from $48.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, November 29th. Finally, UBS Group assumed coverage on shares of Momo in a research note on Tuesday, January 2nd. They issued a “hold” rating and a $28.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Momo has a consensus rating of “Buy” and a consensus price target of $41.09.
Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Tuesday, November 28th. The information services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. The business had revenue of $354.10 million for the quarter, compared to analysts’ expectations of $342.48 million. Momo had a net margin of 25.88% and a return on equity of 39.60%. Momo’s revenue for the quarter was up 125.5% compared to the same quarter last year. equities analysts anticipate that Momo Inc will post 1.47 EPS for the current fiscal year.
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Momo Company 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.
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