American Century Companies Inc. Sells 85,893 Shares of Hello Group Inc. Sponsored ADR $MOMO

Key Points

• American Century Companies Inc. reduced its stake in Hello Group Inc. by selling 85,893 shares, dropping its ownership to 0.69%, valued at approximately $5.2 million.
• Wall Street analysts have upgraded Hello Group's stock rating from "hold" to "buy", with a consensus target price of $9.00.
• Hello Group currently has a market capitalization of nearly $980 million and has experienced stock price fluctuations with a 52-week range between $5.12 and $9.22.

American Century Companies Inc. lessened its stake in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 826,718 shares of the information services provider's stock after selling 85,893 shares during the quarter. American Century Companies Inc. owned approximately 0.69% of Hello Group worth $5,217,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. NewEdge Advisors LLC raised its holdings in shares of Hello Group by 122.3% during the fourth quarter. NewEdge Advisors LLC now owns 27,155 shares of the information services provider's stock valued at $209,000 after acquiring an additional 14,937 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Hello Group during the fourth quarter valued at approximately $198,000. Hsbc Holdings PLC bought a new position in shares of Hello Group during the fourth quarter valued at approximately $79,000. Northern Trust Corp raised its holdings in shares of Hello Group by 53.3% during the fourth quarter. Northern Trust Corp now owns 390,686 shares of the information services provider's stock valued at $3,012,000 after acquiring an additional 135,879 shares in the last quarter. Finally, AXA S.A. raised its holdings in shares of Hello Group by 125.3% during the fourth quarter. AXA S.A. now owns 42,278 shares of the information services provider's stock valued at $326,000 after acquiring an additional 23,516 shares in the last quarter. Hedge funds and other institutional investors own 50.96% of the company's stock.

Hello Group Stock Down 0.2%

Shares of NASDAQ:MOMO traded down $0.02 on Tuesday, hitting $8.29. 336,957 shares of the company traded hands, compared to its average volume of 1,115,981. 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 $8.41 and a 200-day simple moving average of $7.26. The company has a market cap of $998.26 million, a PE ratio of 6.37 and a beta of 0.38.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.00.

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.