Charles Schwab Investment Management Inc. Takes Position in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• Charles Schwab Investment Management Inc. has acquired 240,732 shares of Hello Group Inc., valued at approximately $1,519,000, representing a **0.20%** ownership in the company at the end of the last quarter.
• Several institutional investors, including Jupiter Asset Management Ltd. and LSV Asset Management, also increased their stakes in Hello Group during the first quarter, highlighting strong interest in the company.
• Wall Street analysts have upgraded Hello Group from a **"hold"** to a **"buy"** rating, indicating growing confidence in the company's prospects amidst a current target price of $9.00.

Charles Schwab Investment Management Inc. purchased a new position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 240,732 shares of the information services provider's stock, valued at approximately $1,519,000. Charles Schwab Investment Management Inc. owned 0.20% of Hello Group as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. US Bancorp DE raised its stake in shares of Hello Group by 3.9% in the 1st quarter. US Bancorp DE now owns 78,397 shares of the information services provider's stock valued at $495,000 after acquiring an additional 2,978 shares during the period. Millennium Management LLC raised its stake in shares of Hello Group by 1,590.1% in the 4th quarter. Millennium Management LLC now owns 174,536 shares of the information services provider's stock valued at $1,346,000 after acquiring an additional 164,209 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Hello Group by 10.7% in the 1st quarter. Allianz Asset Management GmbH now owns 292,362 shares of the information services provider's stock valued at $1,845,000 after acquiring an additional 28,278 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Hello Group in the 4th quarter valued at $79,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Hello Group in the 4th quarter valued at $4,535,000. Hedge funds and other institutional investors own 50.96% of the company's stock.

Analysts Set New Price Targets

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. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $10.00.

Hello Group Trading Up 0.4%

MOMO stock traded up $0.04 during mid-day trading on Thursday, hitting $8.31. 505,741 shares of the company were exchanged, compared to its average volume of 1,112,590. The company has a market capitalization of $1.00 billion, a PE ratio of 6.39 and a beta of 0.38. Hello Group Inc. Sponsored ADR has a twelve month low of $5.12 and a twelve month high of $9.22. The firm has a fifty day simple moving average of $8.39 and a 200 day simple moving average of $7.28.

Hello Group Company 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.