Assenagon Asset Management S.A. Reduces Stock Position in Hello Group Inc. (NASDAQ:MOMO)

Assenagon Asset Management S.A. trimmed its position in Hello Group Inc. (NASDAQ:MOMO - Free Report) by 38.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 0.48% of Hello Group worth $4,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in Hello Group by 8.4% during the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider's stock worth $169,000 after buying an additional 1,690 shares during the period. Cetera Investment Advisers raised its position in shares of Hello Group by 3.6% in the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider's stock worth $500,000 after acquiring an additional 2,280 shares in the last quarter. Vident Advisory LLC lifted its stake in shares of Hello Group by 34.0% during the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock worth $122,000 after purchasing an additional 4,009 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Hello Group during the fourth quarter valued at about $35,000. Finally, Hsbc Holdings PLC purchased a new position in Hello Group in the fourth quarter valued at about $79,000. Institutional investors own 50.96% of the company's stock.

Hello Group Price Performance

Hello Group stock traded up $0.20 during midday trading on Monday, reaching $8.47. The company's stock had a trading volume of 2,037,035 shares, compared to its average volume of 1,257,900. The stock has a market capitalization of $1.02 billion, a P/E ratio of 8.73, a PEG ratio of 2.07 and a beta of 0.31. The stock's 50-day simple moving average is $6.16 and its 200-day simple moving average is $6.81. Hello Group Inc. has a 52-week low of $5.12 and a 52-week high of $8.51.

Analyst Ratings Changes

MOMO has been the subject of several analyst reports. Wall Street Zen raised shares of Hello Group from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Benchmark reiterated a "buy" rating and set a $13.00 price objective on shares of Hello Group in a research note on Thursday, March 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Hello Group presently has a consensus rating of "Hold" and a consensus price target of $9.00.

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.