E Fund Management Hong Kong Co. Ltd. Has $704,000 Stock Position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)

E Fund Management Hong Kong Co. Ltd. grew its holdings in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 352.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 comprises 0.6% of E Fund Management Hong Kong Co. Ltd.'s portfolio, making the stock its 22nd largest holding. E Fund Management Hong Kong Co. Ltd. owned about 0.08% of Hello Group worth $704,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MOMO. Benchmark restated a "buy" rating and set a $13.00 price target on shares of Hello Group in a research note on Thursday, March 13th. Wall Street Zen raised shares of Hello Group from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $9.00.

Hello Group Stock Down 2.4%

Shares of NASDAQ:MOMO traded down $0.21 during trading on Friday, reaching $8.54. The stock had a trading volume of 1,477,848 shares, compared to its average volume of 1,240,986. The stock has a fifty day simple moving average of $6.71 and a two-hundred day simple moving average of $6.92. Hello Group Inc. Sponsored ADR has a 52 week low of $5.12 and a 52 week high of $8.83. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 6.57 and a beta of 0.31.

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.