33,640 Shares in Hello Group Inc. Sponsored ADR $MOMO Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired a new position in Hello Group Inc. by purchasing 33,640 shares valued at approximately $212,000 during the first quarter.
• Other institutional investors have also increased their stakes in Hello Group, resulting in a total of 50.96% of the company’s stock being owned by hedge funds and institutional investors.
• Wall Street Analysts have downgraded Hello Group stock from a "buy" to a "hold" rating, with a current consensus rating of "Hold" and an average price target of $10.00.

Strs Ohio bought a new position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 33,640 shares of the information services provider's stock, valued at approximately $212,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Cetera Investment Advisers increased its stake in Hello Group by 3.6% in the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider's stock worth $500,000 after purchasing an additional 2,280 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Hello Group by 3.9% during the 1st quarter. US Bancorp DE now owns 78,397 shares of the information services provider's stock valued at $495,000 after buying an additional 2,978 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Hello Group by 14.2% in the 1st quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider's stock valued at $157,000 after acquiring an additional 3,098 shares in the last quarter. Vident Advisory LLC raised its stake in shares of Hello Group by 34.0% in the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock valued at $122,000 after acquiring an additional 4,009 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Hello Group in the 1st quarter valued at approximately $56,000. Hedge funds and other institutional investors own 50.96% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Hello Group from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $10.00.

Hello Group Stock Performance

NASDAQ:MOMO opened at $7.58 on Thursday. The company has a market cap of $913.31 million, a PE ratio of 8.52 and a beta of 0.38. Hello Group Inc. Sponsored ADR has a 52-week low of $5.12 and a 52-week high of $9.22. The stock has a 50-day simple moving average of $8.12 and a 200 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.

Want to see what other hedge funds are holding MOMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.