Assenagon Asset Management S.A. Sells 427,484 Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)

Assenagon Asset Management S.A. lowered its position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 38.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690,005 shares of the information services provider's stock after selling 427,484 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.48% of Hello Group worth $4,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Hello Group during the 4th quarter valued at about $35,000. Hsbc Holdings PLC bought a new stake in Hello Group during the 4th quarter valued at $79,000. Vident Advisory LLC boosted its position in Hello Group by 34.0% during the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock valued at $122,000 after buying an additional 4,009 shares during the period. Quantbot Technologies LP bought a new stake in Hello Group in the 4th quarter worth $148,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Hello Group during the fourth quarter valued at about $158,000. Hedge funds and other institutional investors own 50.96% of the company's stock.

Hello Group Trading Up 2.4%

MOMO traded up $0.20 during trading on Thursday, reaching $8.59. The stock had a trading volume of 1,842,103 shares, compared to its average volume of 1,253,483. The stock's 50 day moving average is $6.34 and its two-hundred day moving average is $6.85. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 6.61 and a beta of 0.31. Hello Group Inc. Sponsored ADR has a one year low of $5.12 and a one year high of $8.66.

Analyst Ratings Changes

A number of research analysts have commented on MOMO shares. Wall Street Zen raised Hello Group from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Benchmark reaffirmed a "buy" rating and issued a $13.00 target price on shares of Hello Group in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $9.00.

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.