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Momo Inc (ADR) (MOMO) Surges on Buyout News and Hedge Funds Saw This Coming

Of the funds tracked by Insider Monkey, Hillhouse Capital Management, managed by Lei Zhang, holds the largest position in Momo Inc (ADR) (NASDAQ:MOMO), which contains 5.46 million shares, valued at $57.9 million, comprising 1.1% of its 13F portfolio. Coming in second is Chase Coleman’s Tiger Global Management, which owns 2.18 million shares, worth $23.1 million. Other hedge funds with similar optimism include Karthik Sarma’s SRS Investment Management, Ken Griffin’s Citadel Investment Group and Philippe Laffont’s Coatue Management.

With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. Josh Resnick‘s Jericho Capital Asset Management initiated a $3.3 million position during the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, Joseph A. Jolson’s Harvest Capital Strategies, and David Costen Haley’s HBK Investments.

With the tender offer for Momo Inc (ADR) (NASDAQ:MOMO) and the bullish sentiment of hedge funds, we recommend being long on this stock.

Disclosure: None

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