Assenagon Asset Management S.A. Invests $6.18 Million in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• Assenagon Asset Management purchased 1,064,894 shares of Hello Group, valued at approximately $6.18 million, representing about 0.99% of the company.
• Institutional investors and hedge funds own approximately 50.96% of Hello Group, with Goldman Sachs, LSV Asset Management, Dimensional Fund Advisors and others increasing or initiating positions.
• MOMO shares opened at $5.83, near their 50-day moving average, while analysts’ consensus rating is Hold with an average price target of $9.05; ratings range from Buy to Sell.

Assenagon Asset Management S.A. purchased a new stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,064,894 shares of the information services provider's stock, valued at approximately $6,176,000. Assenagon Asset Management S.A. owned approximately 0.99% of Hello Group as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in 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 purchasing an additional 546,048 shares during the last quarter. Athos Capital Ltd purchased a new stake in Hello Group during the 4th quarter worth approximately $47,359,000. LSV Asset Management increased its stake in Hello Group by 21.3% during the 4th quarter. LSV Asset Management now owns 3,565,971 shares of the information services provider's stock valued at $23,357,000 after purchasing an additional 626,152 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Hello Group by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,408,461 shares of the information services provider's stock valued at $13,868,000 after purchasing an additional 37,306 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Hello Group in the fourth quarter worth $9,146,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Hello Group Trading Down 1.0%

MOMO stock opened at $5.83 on Wednesday. Hello Group Inc. Sponsored ADR has a 12-month low of $5.32 and a 12-month high of $8.59. The stock has a market cap of $627.13 million, a price-to-earnings ratio of 9.11 and a beta of 0.47. The business's 50-day moving average is $5.81 and its 200 day moving average is $6.10.

Wall Street Analyst Weigh In

Several research firms have recently commented on MOMO. Weiss Ratings reiterated a "sell (d+)" rating on shares of Hello Group in a research note on Monday, August 3rd. UBS Group set a $10.00 target price on Hello Group in a research report on Thursday, June 4th. Benchmark reaffirmed a "buy" rating on shares of Hello Group in a research report on Thursday, June 4th. Finally, Wall Street Zen cut shares of Hello Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $9.05.

About Hello Group

Hello Group Inc NASDAQ: MOMO is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group's portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.

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).

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