Sumitomo Mitsui Trust Holdings Inc. Buys 152,542 Shares of Momo Inc (MOMO)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Momo Inc (NASDAQ:MOMO) by 58.0% in the third quarter, Holdings Channel reports. The institutional investor owned 415,633 shares of the information services provider’s stock after acquiring an additional 152,542 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Momo were worth $18,205,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MOMO. OLD National Bancorp IN purchased a new position in shares of Momo in the 3rd quarter valued at about $201,000. Engineers Gate Manager LP purchased a new position in shares of Momo in the 3rd quarter valued at about $201,000. WINTON GROUP Ltd purchased a new position in shares of Momo in the 3rd quarter valued at about $211,000. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Momo in the 2nd quarter valued at about $213,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Momo in the 2nd quarter valued at about $242,000. Institutional investors and hedge funds own 53.23% of the company’s stock.

MOMO stock opened at $31.67 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.46 and a current ratio of 3.46. Momo Inc has a 12-month low of $22.49 and a 12-month high of $54.24. The stock has a market capitalization of $6.31 billion, a P/E ratio of 20.70, a PEG ratio of 0.65 and a beta of 1.88.

MOMO has been the subject of several recent analyst reports. ValuEngine upgraded Momo from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. Standpoint Research upgraded Momo from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. BidaskClub cut Momo from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Zacks Investment Research cut Momo from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Finally, 86 Research upgraded Momo from a “hold” rating to a “buy” rating in a report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $48.53.

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Momo Company 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.

Read More: Asset Allocation

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Institutional Ownership by Quarter for Momo (NASDAQ:MOMO)

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