Causeway Capital Management LLC Acquires 1,205,166 Shares of Hello Group Inc. Sponsored ADR $MOMO

Key Points

• Causeway Capital Management LLC significantly increased its stake in Hello Group Inc. by 136.2%, acquiring an additional 1,205,166 shares, bringing its total ownership to approximately 1.73% of the company.
• Wall Street analysts upgraded Hello Group's stock rating from "hold" to "buy" and the stock has a consensus target price of $9.00.
• As of the latest reporting, Hello Group has a market capitalization of $1.00 billion and fluctuates within a one-year price range of $5.12 to $9.22.

Causeway Capital Management LLC increased its holdings in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 136.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,089,913 shares of the information services provider's stock after purchasing an additional 1,205,166 shares during the period. Causeway Capital Management LLC owned approximately 1.73% of Hello Group worth $13,187,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Hello Group by 3.9% in 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 in the last quarter. Millennium Management LLC grew its stake 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 buying an additional 164,209 shares during the last quarter. Allianz Asset Management GmbH grew its stake 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 buying an additional 28,278 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Hello Group during the fourth quarter worth about $79,000. Finally, BNP Paribas Financial Markets bought a new stake in Hello Group during the fourth quarter worth about $4,535,000. Institutional investors and hedge funds own 50.96% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Hello Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $9.00.

Hello Group Trading Up 2.1%

Shares of MOMO traded up $0.17 during mid-day trading on Friday, hitting $8.30. 583,112 shares of the company traded hands, compared to its average volume of 571,985. Hello Group Inc. Sponsored ADR has a one year low of $5.12 and a one year high of $9.22. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 6.38 and a beta of 0.41. The business has a 50-day moving average of $8.41 and a 200 day moving average of $7.26.

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.