Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) Shares Sold by BRIGHT VALLEY CAPITAL Ltd

Key Points

• BRIGHT VALLEY CAPITAL Ltd significantly reduced its holdings in Hello Group Inc. by 99.9%, now owning only 6,612 shares after selling over 4.6 million shares.
• Several hedge funds have recently made investments in Hello Group, with notable purchases from Hsbc Holdings PLC and Aigen Investment Management LP.
• Wall Street Zen upgraded Hello Group's stock rating from "hold" to "buy," while the stock has a consensus rating of "Hold" with an average price target of $9.00.

BRIGHT VALLEY CAPITAL Ltd decreased its position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 99.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,612 shares of the information services provider's stock after selling 4,645,178 shares during the period. Hello Group accounts for approximately 0.0% of BRIGHT VALLEY CAPITAL Ltd's investment portfolio, making the stock its 15th largest position. BRIGHT VALLEY CAPITAL Ltd's holdings in Hello Group were worth $42,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MOMO. Hsbc Holdings PLC purchased a new stake in shares of Hello Group in the 4th quarter valued at approximately $79,000. Aigen Investment Management LP purchased a new stake in shares of Hello Group in the 1st quarter valued at approximately $85,000. Vident Advisory LLC grew its stake in shares of Hello Group by 34.0% in 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. QRG Capital Management Inc. grew its stake in shares of Hello Group by 14.2% in the 1st quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider's stock valued at $157,000 after buying an additional 3,098 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of Hello Group in the 1st quarter valued at approximately $159,000. Hedge funds and other institutional investors own 50.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Hello Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. 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 has a consensus rating of "Hold" and an average price target of $9.00.

Hello Group Stock Performance

NASDAQ:MOMO opened at $8.06 on Thursday. The stock has a market capitalization of $971.15 million, a P/E ratio of 6.20 and a beta of 0.41. The company has a 50 day moving average price of $8.41 and a 200 day moving average price of $7.20. Hello Group Inc. Sponsored ADR has a fifty-two week low of $5.12 and a fifty-two week high of $9.22.

Hello Group Company 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.

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