BNP Paribas Arbitrage SA boosted its stake in shares of Momo Inc. (NASDAQ:MOMO) by 1,631.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 271,511 shares of the information services provider’s stock after buying an additional 255,831 shares during the period. BNP Paribas Arbitrage SA’s holdings in Momo were worth $10,035,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of MOMO. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Momo during the second quarter valued at approximately $155,000. Quantitative Systematic Strategies LLC bought a new stake in Momo during the first quarter valued at about $201,000. DekaBank Deutsche Girozentrale bought a new stake in Momo during the first quarter valued at about $219,000. Teacher Retirement System of Texas bought a new stake in Momo during the second quarter valued at about $259,000. Finally, GRATRY & Co LLC bought a new stake in Momo during the first quarter valued at about $274,000. Institutional investors own 43.47% of the company’s stock.
Momo Inc. (MOMO) opened at 45.08 on Tuesday. Momo Inc. has a 1-year low of $16.73 and a 1-year high of $46.69.
Momo (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, May 23rd. The information services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. Momo had a net margin of 28.59% and a return on equity of 36.36%. The company had revenue of $265.20 million during the quarter, compared to the consensus estimate of $245.48 million. The business’s quarterly revenue was up 421.0% compared to the same quarter last year. Analysts forecast that Momo Inc. will post $1.57 EPS for the current year.
Several equities research analysts have issued reports on MOMO shares. TheStreet raised shares of Momo from a “c+” rating to a “b” rating in a research report on Monday, August 7th. BOCOM International Holdings started coverage on shares of Momo in a research report on Monday, May 8th. They issued a “buy” rating and a $46.00 price objective for the company. Vetr cut shares of Momo from a “strong-buy” rating to a “buy” rating and set a $42.83 price objective for the company. in a research report on Monday, May 1st. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Momo in a research report on Tuesday, June 13th. Finally, HSBC Holdings plc boosted their price objective on shares of Momo from $43.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $39.95.
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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