Advisor Group Inc. reduced its position in shares of Momo Inc (NASDAQ:MOMO) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,614 shares of the information services provider’s stock after selling 679 shares during the period. Advisor Group Inc.’s holdings in Momo were worth $299,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in MOMO. Renaissance Technologies LLC increased its position in shares of Momo by 66.5% during the third quarter. Renaissance Technologies LLC now owns 7,485,200 shares of the information services provider’s stock valued at $327,852,000 after acquiring an additional 2,990,500 shares during the last quarter. Broad Peak Investment Management LTD. acquired a new stake in shares of Momo during the fourth quarter valued at about $29,202,000. BlackRock Inc. increased its position in shares of Momo by 14.2% during the fourth quarter. BlackRock Inc. now owns 7,504,573 shares of the information services provider’s stock valued at $178,235,000 after acquiring an additional 934,298 shares during the last quarter. Man Group plc increased its position in shares of Momo by 73.1% during the third quarter. Man Group plc now owns 1,989,364 shares of the information services provider’s stock valued at $87,134,000 after acquiring an additional 840,073 shares during the last quarter. Finally, Pendal Group Ltd grew its holdings in shares of Momo by 7.5% in the fourth quarter. Pendal Group Ltd now owns 8,555,008 shares of the information services provider’s stock valued at $196,470,000 after purchasing an additional 593,746 shares in the last quarter. Hedge funds and other institutional investors own 52.62% of the company’s stock.
Momo stock traded down $0.37 during trading on Friday, reaching $35.67. The stock had a trading volume of 1,973,559 shares, compared to its average volume of 3,495,022. Momo Inc has a 52-week low of $22.85 and a 52-week high of $54.24. The company has a quick ratio of 4.76, a current ratio of 4.69 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $7.11 billion, a P/E ratio of 18.20, a P/E/G ratio of 0.63 and a beta of 2.16.
The company also recently declared a special dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, April 4th.
MOMO has been the subject of a number of research reports. ValuEngine upgraded shares of Momo from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. BidaskClub upgraded shares of Momo from a “hold” rating to a “buy” rating in a report on Tuesday, January 22nd. Zacks Investment Research upgraded shares of Momo from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. Morgan Stanley upgraded shares of Momo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $33.00 to $44.00 in a report on Wednesday, March 13th. Finally, Nomura lifted their price objective on shares of Momo from $41.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $46.67.
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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 videos, short videos, social games, and other video- and audio-based interactive experiences.
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