Momo (MOMO) Shares Down 8.2%

Momo Inc (NASDAQ:MOMO) shares traded down 8.2% during trading on Wednesday . The stock traded as low as $34.40 and last traded at $34.50. 7,489,506 shares traded hands during mid-day trading, an increase of 55% from the average session volume of 4,834,860 shares. The stock had previously closed at $37.59.

Several research analysts recently commented on the company. BidaskClub cut Momo from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. ValuEngine raised Momo from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Standpoint Research upgraded Momo from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, Zacks Investment Research lowered Momo from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $49.41.

The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $6.87 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 0.68 and a beta of 1.59.

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

A number of institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of Momo in the second quarter valued at $167,114,000. Renaissance Technologies LLC increased its stake in shares of Momo by 104.8% in the second quarter. Renaissance Technologies LLC now owns 4,494,700 shares of the information services provider’s stock valued at $195,519,000 after buying an additional 2,300,100 shares in the last quarter. Sylebra HK Co Ltd increased its stake in shares of Momo by 194.9% in the second quarter. Sylebra HK Co Ltd now owns 1,547,969 shares of the information services provider’s stock valued at $67,337,000 after buying an additional 1,022,971 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd acquired a new stake in shares of Momo in the second quarter valued at $44,430,000. Finally, Elephas Investment Management Ltd acquired a new stake in shares of Momo in the second quarter valued at $27,070,000. Hedge funds and other institutional investors own 53.44% of the company’s stock.

Momo Company Profile (NASDAQ:MOMO)

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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