Skandinaviska Enskilda Banken AB publ decreased its holdings in Momo Inc (NASDAQ:MOMO) by 13.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,928 shares of the information services provider’s stock after selling 17,002 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.05% of Momo worth $2,276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of MOMO. Americana Partners LLC bought a new position in Momo in the fourth quarter worth about $35,000. Advisors Asset Management Inc. boosted its stake in Momo by 90.9% in the fourth quarter. Advisors Asset Management Inc. now owns 6,280 shares of the information services provider’s stock valued at $210,000 after acquiring an additional 2,991 shares in the last quarter. US Bancorp DE grew its holdings in Momo by 14.7% in the first quarter. US Bancorp DE now owns 6,755 shares of the information services provider’s stock worth $147,000 after purchasing an additional 868 shares during the last quarter. Brinker Capital Inc. acquired a new position in shares of Momo during the first quarter worth $208,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Momo by 7.1% during the 1st quarter. Fifth Third Bancorp now owns 9,993 shares of the information services provider’s stock valued at $217,000 after purchasing an additional 664 shares during the last quarter. 55.43% of the stock is owned by institutional investors.

NASDAQ:MOMO opened at $17.50 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.68 and a current ratio of 4.68. The stock has a market capitalization of $3.49 billion, a PE ratio of 8.45, a P/E/G ratio of 0.78 and a beta of 1.73. Momo Inc has a fifty-two week low of $16.61 and a fifty-two week high of $40.87. The company has a fifty day moving average of $19.99 and a two-hundred day moving average of $26.68.

Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Thursday, May 28th. The information services provider reported $3.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $3.00. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.48 billion. Momo had a net margin of 19.07% and a return on equity of 25.51%. Momo’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. Research analysts forecast that Momo Inc will post 1.7 earnings per share for the current year.

A number of equities research analysts have commented on the company. Nomura Securities reiterated a “buy” rating and issued a $26.00 price target on shares of Momo in a research note on Monday, March 23rd. Nomura downgraded shares of Momo from a “buy” rating to a “neutral” rating in a report on Friday, May 29th. Daiwa Capital Markets lowered Momo from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research note on Thursday, May 28th. Benchmark lowered their target price on Momo from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 29th. Finally, ValuEngine cut Momo from a “hold” rating to a “sell” rating in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $33.13.

About Momo

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 talent shows, short videos, social games, and other video- and audio-based interactive experiences.

Read More: What causes a recession?

Want to see what other hedge funds are holding MOMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Momo Inc (NASDAQ:MOMO).

Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

Receive News & Ratings for Momo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momo and related companies with MarketBeat.com's FREE daily email newsletter.