Cubist Systematic Strategies LLC Invests $1.61 Million in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• Cubist Systematic Strategies LLC has acquired 255,084 shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) valued at approximately $1.61 million, representing 0.21% ownership at the end of the last quarter.
• Several other hedge funds have also increased their stakes in Hello Group, indicating growing institutional interest, with institutional investors holding 50.96% of the company's stock.
• Wall Street Zen upgraded Hello Group from a "hold" to a "buy" rating, suggesting a more optimistic outlook for the stock, which currently has a consensus rating of "hold" and an average price target of $10.00.

Cubist Systematic Strategies LLC purchased a new stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 255,084 shares of the information services provider's stock, valued at approximately $1,610,000. Cubist Systematic Strategies LLC owned about 0.21% of Hello Group as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MOMO. Nomura Holdings Inc. acquired a new position in Hello Group in the first quarter valued at about $63,000. Vident Advisory LLC raised its holdings in shares of Hello Group by 48.9% in the 1st quarter. Vident Advisory LLC now owns 23,525 shares of the information services provider's stock worth $148,000 after acquiring an additional 7,722 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Hello Group during the 1st quarter worth $2,933,000. OMERS ADMINISTRATION Corp purchased a new stake in Hello Group during the first quarter valued at about $389,000. Finally, Causeway Capital Management LLC raised its stake in Hello Group by 136.2% in the first quarter. Causeway Capital Management LLC now owns 2,089,913 shares of the information services provider's stock valued at $13,187,000 after purchasing an additional 1,205,166 shares in the last quarter. Institutional investors and hedge funds own 50.96% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Hello Group from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.00.

Hello Group Trading Down 3.0%

Hello Group stock traded down $0.24 during midday trading on Tuesday, reaching $7.88. 2,844,547 shares of the stock traded hands, compared to its average volume of 659,797. Hello Group Inc. Sponsored ADR has a 12-month low of $5.12 and a 12-month high of $9.22. The firm has a market cap of $949.46 million, a PE ratio of 6.06 and a beta of 0.38. The company has a 50-day simple moving average of $8.37 and a two-hundred day simple moving average of $7.28.

Hello Group Profile

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.