Invesco Ltd. reduced its position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 32.8% in the first quarter, according to its most recent 13F filing 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 period. Invesco Ltd. owned approximately 2.96% of Hello Group worth $22,518,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MOMO. NewEdge Advisors LLC grew its position in shares of Hello Group by 122.3% during the 4th quarter. NewEdge Advisors LLC now owns 27,155 shares of the information services provider's stock valued at $209,000 after purchasing an additional 14,937 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Hello Group during the 4th quarter valued at $198,000. Hsbc Holdings PLC purchased a new position in shares of Hello Group during the 4th quarter valued at $79,000. Northern Trust Corp grew its position in shares of Hello Group by 53.3% during the 4th quarter. Northern Trust Corp now owns 390,686 shares of the information services provider's stock valued at $3,012,000 after purchasing an additional 135,879 shares in the last quarter. Finally, Hhlr Advisors LTD. purchased a new position in shares of Hello Group during the 4th quarter valued at $413,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.
Hello Group Stock Performance
NASDAQ MOMO opened at $8.00 on Thursday. Hello Group Inc. Sponsored ADR has a 52-week low of $5.12 and a 52-week high of $9.22. The company has a market capitalization of $963.90 million, a P/E ratio of 6.15 and a beta of 0.41. The company has a fifty day moving average of $8.44 and a 200-day moving average of $7.22.
Analyst Ratings Changes
Separately, Wall Street Zen upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $9.00.
Read Our Latest Stock Analysis on MOMO
About Hello Group
(
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.
See Also
Want to see what other hedge funds are holding MOMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report).
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