Thomas White International Ltd. boosted its stake in Momo Inc (NASDAQ:MOMO) by 812.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 174,304 shares of the information services provider’s stock after buying an additional 155,204 shares during the period. Thomas White International Ltd.’s holdings in Momo were worth $4,267,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Rational Advisors LLC grew its stake in Momo by 108.7% in the 3rd quarter. Rational Advisors LLC now owns 4,800 shares of the information services provider’s stock valued at $150,000 after buying an additional 2,500 shares during the last quarter. Exane Derivatives acquired a new position in shares of Momo during the 3rd quarter worth approximately $194,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Momo by 213.5% during the 4th 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 in the last quarter. Caxton Associates LP acquired a new position in shares of Momo during the 3rd quarter worth approximately $254,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of Momo during the 3rd quarter worth approximately $256,000. Institutional investors and hedge funds own 38.11% of the company’s stock.
Shares of Momo Inc (MOMO) opened at $31.05 on Monday. The stock has a market cap of $6,165.85, a P/E ratio of 20.98 and a beta of 1.80. Momo Inc has a 52-week low of $22.49 and a 52-week high of $46.69.
A number of research analysts have issued reports on MOMO shares. Zacks Investment Research upgraded shares of Momo from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Wednesday, October 25th. JPMorgan Chase & Co. decreased their target price on shares of Momo to $30.00 in a research report on Wednesday, November 29th. Deutsche Bank set a $43.00 target price on shares of Momo and gave the stock a “buy” rating in a research report on Tuesday, November 28th. UBS Group started coverage on shares of Momo in a research report on Tuesday, January 2nd. They set a “hold” rating and a $28.00 target price on the stock. Finally, TheStreet upgraded shares of Momo from a “c+” rating to a “b-” rating in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Momo currently has an average rating of “Buy” and an average target price of $41.09.
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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