Invesco Ltd. Lowers Holdings in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• Invesco Ltd. reduced its stake in Hello Group Inc. by 32.8%, now owning approximately 3.57 million shares valued at $22.52 million.
• Multiple hedge funds, including NewEdge Advisors LLC and Northern Trust Corp, have increased their positions in Hello Group during the 4th quarter, reflecting growing interest in the stock.
• Analyst ratings for Hello Group show a consensus of "Hold," with a recent upgrade to "Buy" from Wall Street Zen and a price target of $9.00.

Invesco Ltd. cut its stake in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 32.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,568,691 shares of the information services provider's stock after selling 1,738,359 shares during the quarter. Invesco Ltd. owned about 2.96% of Hello Group worth $22,518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MOMO. BNP Paribas Financial Markets bought a new position in shares of Hello Group during the fourth quarter valued at $4,535,000. LSV Asset Management increased its holdings in Hello Group by 25.4% in the 1st quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider's stock worth $17,365,000 after buying an additional 557,777 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Hello Group in the 1st quarter worth about $2,638,000. Charles Schwab Investment Management Inc. bought a new stake in Hello Group in the 1st quarter worth about $1,519,000. Finally, National Bank of Canada FI bought a new stake in Hello Group in the 1st quarter worth about $1,230,000. 50.96% of the stock is currently owned by institutional investors.

Hello Group Price Performance

Shares of NASDAQ:MOMO traded down $0.04 during mid-day trading on Tuesday, reaching $8.28. 703,148 shares of the company traded hands, compared to its average volume of 582,627. The company's 50 day moving average price is $8.43 and its 200-day moving average price is $7.25. Hello Group Inc. Sponsored ADR has a 52 week low of $5.12 and a 52 week high of $9.22. The firm has a market cap of $997.66 million, a PE ratio of 6.37 and a beta of 0.41.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Hello Group currently has a consensus rating of "Hold" and an average target price of $9.00.

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.