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

Other institutional investors and hedge funds have also bought and sold shares of the company. Jump Financial LLC grew its stake in shares of Hello Group by 22.8% during the 1st quarter. Jump Financial LLC now owns 179,016 shares of the information services provider's stock worth $1,130,000 after acquiring an additional 33,183 shares during the period. Wellington Management Group LLP bought a new position in Hello Group during the first quarter worth about $120,000. Summit Securities Group LLC bought a new position in Hello Group during the first quarter worth about $56,000. E Fund Management Co. Ltd. increased its stake in shares of Hello Group by 352.2% in the first quarter. E Fund Management Co. Ltd. now owns 111,601 shares of the information services provider's stock worth $704,000 after purchasing an additional 86,923 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Hello Group in the first quarter valued at approximately $793,000. 50.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Two equities research analysts have 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 data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $9.00.

Hello Group Price Performance

MOMO opened at $8.32 on Tuesday. The firm has a market capitalization of $1.00 billion, a P/E ratio of 6.40 and a beta of 0.41. Hello Group Inc. Sponsored ADR has a one year low of $5.12 and a one year high of $9.22. The company has a fifty day moving average price of $8.43 and a 200-day moving average price of $7.24.

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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