ClariVest Asset Management LLC Grows Position in Momo Inc (MOMO)

ClariVest Asset Management LLC increased its stake in shares of Momo Inc (NASDAQ:MOMO) by 72.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 299,800 shares of the information services provider’s stock after buying an additional 125,900 shares during the quarter. ClariVest Asset Management LLC’s holdings in Momo were worth $13,132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its holdings in Momo by 39.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 107,324 shares of the information services provider’s stock valued at $4,669,000 after purchasing an additional 30,511 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Momo in the 2nd quarter valued at approximately $1,750,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Momo by 63.6% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,200 shares of the information services provider’s stock valued at $313,000 after purchasing an additional 2,800 shares in the last quarter. Korea Investment CORP boosted its holdings in Momo by 30.5% in the 2nd quarter. Korea Investment CORP now owns 112,100 shares of the information services provider’s stock valued at $4,876,000 after purchasing an additional 26,200 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. acquired a new stake in shares of Momo during the 2nd quarter valued at approximately $213,000. 52.78% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Momo from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. BidaskClub upgraded shares of Momo from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Standpoint Research upgraded shares of Momo from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Finally, Zacks Investment Research downgraded Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $49.41.

Shares of NASDAQ MOMO opened at $32.88 on Thursday. Momo Inc has a 52-week low of $22.49 and a 52-week high of $54.24. The firm has a market cap of $6.28 billion, a PE ratio of 21.49, a P/E/G ratio of 0.63 and a beta of 1.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.46 and a quick ratio of 3.46.

Momo (NASDAQ:MOMO) last announced its quarterly earnings data on Wednesday, August 22nd. The information services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.07. Momo had a net margin of 25.40% and a return on equity of 37.12%. The company had revenue of $494.27 million during the quarter, compared to analysts’ expectations of $479.37 million. During the same period in the previous year, the company earned $0.35 EPS. The business’s quarterly revenue was up 58.3% compared to the same quarter last year. As a group, sell-side analysts expect that Momo Inc will post 2.19 EPS for the current fiscal year.

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Momo Profile

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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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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