SG Americas Securities LLC Has $1.19 Million Holdings in Momo (MOMO)

SG Americas Securities LLC cut its holdings in Momo (NASDAQ:MOMO) by 43.9% in the first quarter, Holdings Channel reports. The fund owned 31,859 shares of the information services provider’s stock after selling 24,964 shares during the quarter. SG Americas Securities LLC’s holdings in Momo were worth $1,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Comerica Bank lifted its stake in Momo by 31.2% in the first quarter. Comerica Bank now owns 10,992 shares of the information services provider’s stock valued at $393,000 after acquiring an additional 2,612 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Momo in the first quarter valued at approximately $1,869,000. Wells Fargo & Company MN lifted its stake in Momo by 100.4% in the first quarter. Wells Fargo & Company MN now owns 233,436 shares of the information services provider’s stock valued at $8,726,000 after acquiring an additional 116,966 shares during the last quarter. FDx Advisors Inc. acquired a new stake in Momo in the first quarter valued at approximately $273,000. Finally, Global X Management Co. LLC lifted its stake in shares of Momo by 43.2% in the first quarter. Global X Management Co. LLC now owns 260,168 shares of the information services provider’s stock worth $9,725,000 after buying an additional 78,525 shares during the last quarter. Hedge funds and other institutional investors own 45.53% of the company’s stock.

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A number of brokerages have recently weighed in on MOMO. Zacks Investment Research upgraded shares of Momo from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Wednesday. Vetr upgraded shares of Momo from a “buy” rating to a “strong-buy” rating and set a $41.88 price objective for the company in a research note on Tuesday, March 27th. BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Finally, T.H. Capital restated a “buy” rating on shares of Momo in a research note on Friday, April 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Momo currently has an average rating of “Buy” and a consensus price target of $43.14.

Shares of Momo opened at $39.61 on Wednesday, MarketBeat reports. Momo has a 1-year low of $22.49 and a 1-year high of $46.69. The firm has a market capitalization of $7.95 billion, a PE ratio of 25.89 and a beta of 1.56.

Momo (NASDAQ:MOMO) last announced its earnings results on Wednesday, March 7th. The information services provider reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.11. Momo had a net margin of 24.17% and a return on equity of 36.58%. The business had revenue of $386.40 million for the quarter, compared to analyst estimates of $381.17 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Momo’s revenue was up 57.0% compared to the same quarter last year. research analysts anticipate that Momo will post 1.98 EPS for the current fiscal year.

Momo Company Profile

Momo Inc operates as a mobile-based social networking platform in the People's Republic of China. The company's platform includes its Momo mobile application and various related features, functionalities, tools, and services that are provided to users, customers, and platform partners. It offers Momo mobile application that enables users to establish and expand their social relationships based on locations and interests; and Hani, a live video application.

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