Hello Group Inc. Sponsored ADR $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 lessened its holdings in shares of 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. The fund owned 6,612 shares of the information services provider's stock after selling 4,645,178 shares during the period. Hello Group makes up about 0.0% of BRIGHT VALLEY CAPITAL Ltd's portfolio, making the stock its 15th biggest holding. 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 and other institutional investors have also recently made changes to their positions in the business. E Fund Management Co. Ltd. raised its stake in Hello Group by 352.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 111,601 shares of the information services provider's stock worth $704,000 after acquiring an additional 86,923 shares during the last quarter. Nuveen LLC purchased a new position in Hello Group in the 1st quarter worth $793,000. Aigen Investment Management LP purchased a new position in Hello Group in the 1st quarter worth $85,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Hello Group by 642.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 189,576 shares of the information services provider's stock worth $1,196,000 after acquiring an additional 164,040 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in Hello Group in the 1st quarter worth $1,230,000. Hedge funds and other institutional investors own 50.96% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.00.

Hello Group Stock Performance

MOMO stock traded down $0.13 during midday trading on Monday, reaching $8.14. The stock had a trading volume of 1,175,166 shares, compared to its average volume of 1,154,349. The firm has a fifty day simple moving average of $8.44 and a two-hundred day simple moving average of $7.21. The stock has a market cap of $980.76 million, a PE ratio of 6.26 and a beta of 0.41. Hello Group Inc. Sponsored ADR has a 52-week low of $5.12 and a 52-week high of $9.22.

About Hello Group

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.