E Fund Management Hong Kong Co. Ltd. grew its position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 352.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,601 shares of the information services provider's stock after purchasing an additional 86,923 shares during the period. Hello Group makes up about 0.6% of E Fund Management Hong Kong Co. Ltd.'s investment portfolio, making the stock its 22nd largest position. E Fund Management Hong Kong Co. Ltd. owned approximately 0.08% of Hello Group worth $704,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in MOMO. QRG Capital Management Inc. lifted its stake in shares of Hello Group by 8.4% in the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider's stock worth $169,000 after acquiring an additional 1,690 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Hello Group in the 4th quarter valued at approximately $35,000. Quantbot Technologies LP acquired a new position in shares of Hello Group in the 4th quarter valued at approximately $148,000. American Century Companies Inc. boosted its stake in shares of Hello Group by 4.7% during the 4th quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider's stock valued at $7,036,000 after buying an additional 40,620 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of Hello Group by 813.1% during the fourth quarter. LPL Financial LLC now owns 101,277 shares of the information services provider's stock worth $781,000 after buying an additional 90,186 shares in the last quarter. 50.96% of the stock is owned by institutional investors and hedge funds.
Hello Group Stock Performance
Hello Group stock opened at $8.40 on Tuesday. Hello Group Inc. Sponsored ADR has a twelve month low of $5.12 and a twelve month high of $8.66. The firm has a market cap of $1.01 billion, a PE ratio of 6.46 and a beta of 0.31. The firm's 50 day moving average price is $6.52 and its two-hundred day moving average price is $6.88.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Benchmark reissued a "buy" rating and set a $13.00 price target 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 issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.00.
Get Our Latest Analysis on Hello Group
Hello Group Company Profile
(
Free Report)
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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