Assenagon Asset Management S.A. lifted its position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 23.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194,428 shares of the information services provider's stock after acquiring an additional 226,637 shares during the period. Assenagon Asset Management S.A. owned about 1.00% of Hello Group worth $7,824,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in MOMO. Goldman Sachs Group Inc. boosted its stake in Hello Group by 7.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider's stock worth $51,284,000 after purchasing an additional 546,048 shares during the period. Geode Capital Management LLC boosted its position in shares of Hello Group by 4.1% in the second quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider's stock worth $2,362,000 after buying an additional 10,944 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Hello Group by 111.0% in the second quarter. JPMorgan Chase & Co. now owns 315,918 shares of the information services provider's stock worth $2,666,000 after buying an additional 166,227 shares during the period. Legal & General Group Plc grew its holdings in shares of Hello Group by 31.7% during the second quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider's stock valued at $336,000 after buying an additional 9,597 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Hello Group during the second quarter valued at $4,017,000. Institutional investors and hedge funds own 50.96% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on MOMO shares. Zacks Research raised Hello Group from a "strong sell" rating to a "hold" rating in a research note on Monday, December 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hello Group in a report on Monday, December 22nd. Finally, Jefferies Financial Group set a $8.10 price target on shares of Hello Group in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $8.10.
Check Out Our Latest Research Report on Hello Group
Hello Group Stock Down 1.7%
Shares of MOMO stock opened at $5.74 on Friday. Hello Group Inc. Sponsored ADR has a 12 month low of $5.12 and a 12 month high of $9.22. The company has a market cap of $684.55 million, a PE ratio of 8.57 and a beta of 0.35. The business's 50 day moving average is $6.43 and its two-hundred day moving average is $6.78.
Hello Group Cuts Dividend
The firm also recently disclosed an annual dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, April 10th will be paid a $0.28 dividend. The ex-dividend date is Friday, April 10th. This represents a dividend yield of 486.0%.
About Hello Group
(
Free Report)
Hello Group Inc NASDAQ: MOMO is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.
In addition to Momo, Hello Group's portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.
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