It was discovered on 17 October 1930, by astronomer Karl Reinmuth at the Heidelberg-Königstuhl State Observatory in southwest Germany.

[3] In November 2005, a rotational lightcurve of Margo was obtained from photometric observations by astronomers Raymond Poncy (177), Gino Farroni, Pierre Antonini, Donn Starkey (H63) and Raoul Behrend.

Lightcurve analysis gave a well-defined rotation period of 6.0136 hours with a brightness amplitude of 0.31 magnitude (U=3).

[5][6][7] CALL assumes a standard albedo for carbonaceous asteroids of 0.057 and consequently calculates a much larger diameter of 58.29 kilometers based on an absolute magnitude of 9.9.

All of these low-numbered asteroids have numbers between 164 Eva and 1514 Ricouxa and were discovered between 1876 and the 1930s, predominantly by astronomers Auguste Charlois, Johann Palisa, Max Wolf and Karl Reinmuth.