Acadian Asset Management LLC Has $41.33 Million Position in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• Acadian Asset Management LLC increased its stock holdings in Hello Group Inc. by 5.2%, acquiring a total of 6,553,834 shares worth approximately $41.33 million.
• Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating, reflecting a more favorable outlook despite mixed analyst sentiment with varying ratings.
• As of the latest report, institutional investors own 50.96% of Hello Group's stock, indicating significant interest from large investors in the company.

Acadian Asset Management LLC grew its holdings in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,553,834 shares of the information services provider's stock after acquiring an additional 322,603 shares during the quarter. Acadian Asset Management LLC owned 5.44% of Hello Group worth $41,330,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. US Bancorp DE lifted its position in Hello Group by 3.9% during the first quarter. US Bancorp DE now owns 78,397 shares of the information services provider's stock worth $495,000 after purchasing an additional 2,978 shares during the period. Millennium Management LLC lifted its position in Hello Group by 1,590.1% during the fourth quarter. Millennium Management LLC now owns 174,536 shares of the information services provider's stock worth $1,346,000 after purchasing an additional 164,209 shares during the period. Wellington Management Group LLP bought a new stake in Hello Group during the first quarter worth about $120,000. Allianz Asset Management GmbH lifted its position in Hello Group by 10.7% during the first quarter. Allianz Asset Management GmbH now owns 292,362 shares of the information services provider's stock worth $1,845,000 after purchasing an additional 28,278 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Hello Group during the fourth quarter worth about $4,535,000. Institutional investors own 50.96% of the company's stock.

Hello Group Trading Down 0.1%

NASDAQ MOMO traded down $0.01 during trading on Tuesday, hitting $7.62. 304,184 shares of the company's stock were exchanged, compared to its average volume of 1,132,841. The company has a market cap of $917.53 million, a PE ratio of 8.55 and a beta of 0.38. Hello Group Inc. Sponsored ADR has a fifty-two week low of $5.12 and a fifty-two week high of $9.22. The stock's 50 day moving average price is $8.30 and its two-hundred day moving average price is $7.27.

Wall Street Analysts Forecast Growth

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

Hello Group Company 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.