Acadian Asset Management LLC Grows Stock Holdings 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 raised its position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 5.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,553,834 shares of the information services provider's stock after purchasing an additional 322,603 shares during the period. Acadian Asset Management LLC owned approximately 5.44% of Hello Group worth $41,330,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Caxton Associates LLP purchased a new stake in Hello Group during the first quarter valued at about $1,387,000. Goldman Sachs Group Inc. increased its holdings in shares of Hello Group by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider's stock worth $51,284,000 after buying an additional 546,048 shares during the period. Tiger Pacific Capital LP purchased a new position in shares of Hello Group in the first quarter worth about $6,268,000. Cubist Systematic Strategies LLC purchased a new position in shares of Hello Group in the first quarter worth about $1,610,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Hello Group in the first quarter worth about $63,000. Hedge funds and other institutional investors own 50.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a 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 issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.00.

Hello Group Trading Down 3.9%

MOMO opened at $7.57 on Thursday. The company has a market cap of $912.11 million, a P/E ratio of 8.51 and a beta of 0.38. The business's 50-day moving average price is $8.35 and its 200-day moving average price is $7.28. Hello Group Inc. Sponsored ADR has a 12 month low of $5.12 and a 12 month high of $9.22.

About Hello Group

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.

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