Canada Pension Plan Investment Board Purchases New Holdings in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• The Canada Pension Plan Investment Board has acquired **464,875 shares** of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO), valued at approximately **$2.93 million**, marking a new position for the institution.
• **Hello Group's stock has received an upgrade from Wall Street Zen**, moving from a "hold" to a "buy" rating, with analysts currently holding a consensus rating of "Hold" and an average target price of **$10.00**.
• Institutional investors and hedge funds together own approximately **50.96%** of Hello Group's stock, reflecting strong interest from investment entities.

Canada Pension Plan Investment Board purchased a new position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 464,875 shares of the information services provider's stock, valued at approximately $2,933,000. Canada Pension Plan Investment Board owned approximately 0.39% of Hello Group at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of Hello Group in the first quarter worth about $56,000. Hsbc Holdings PLC bought a new position in shares of Hello Group during the fourth quarter worth about $79,000. Aigen Investment Management LP bought a new position in shares of Hello Group during the first quarter worth about $85,000. Wellington Management Group LLP bought a new position in shares of Hello Group during the first quarter worth about $120,000. Finally, Vident Advisory LLC grew its holdings in shares of Hello Group by 34.0% during the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock worth $122,000 after buying an additional 4,009 shares in the last quarter. 50.96% of the stock is currently owned by institutional investors.

Hello Group Stock Performance

Shares of Hello Group stock traded up $0.17 during trading on Friday, reaching $8.52. 934,225 shares of the company's stock were exchanged, compared to its average volume of 555,180. Hello Group Inc. Sponsored ADR has a 1-year low of $5.12 and a 1-year high of $9.22. The company has a market cap of $1.03 billion, a P/E ratio of 6.55 and a beta of 0.38. The firm's 50-day moving average price is $8.39 and its 200 day moving average price is $7.28.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One analyst has rated the stock with a Buy rating, one has issued 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 a consensus target price of $10.00.

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.