JPMorgan Chase & Co. Raises Stock Position in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• JPMorgan Chase & Co. increased its stake in Hello Group by 142.9% in Q3, buying 451,408 shares to hold 767,326 shares (about 0.64% of the company) valued at roughly $5.69 million.
• Hello Group declared an annual dividend of $0.28 payable April 30 to holders of record on April 10, which the article reports as a 486.0% yield (likely a data anomaly).
• Analysts have an average rating of "Hold" with an average target of $8.10; MOMO trades near $5.86, with a market cap around $699 million and a P/E of about 8.75.

JPMorgan Chase & Co. lifted its holdings in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 142.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 767,326 shares of the information services provider's stock after acquiring an additional 451,408 shares during the quarter. JPMorgan Chase & Co. owned about 0.64% of Hello Group worth $5,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Hello Group in the second quarter valued at about $41,000. Loomis Sayles & Co. L P boosted its position in shares of Hello Group by 322.1% in the second quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider's stock worth $45,000 after buying an additional 4,113 shares during the period. Quarry LP acquired a new stake in shares of Hello Group in the third quarter valued at about $65,000. Boothbay Fund Management LLC acquired a new stake in shares of Hello Group in the third quarter valued at about $88,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Hello Group during the 2nd quarter valued at about $126,000. 50.96% of the stock is owned by hedge funds and other institutional investors.

Hello Group Stock Up 1.7%

MOMO stock opened at $5.86 on Thursday. The stock's 50 day moving average is $6.37 and its two-hundred day moving average is $6.75. 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 $698.86 million, a PE ratio of 8.75 and a beta of 0.42.

Hello Group Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, April 10th will be paid a $0.28 dividend. This represents a dividend yield of 486.0%. The ex-dividend date is Friday, April 10th.

Analysts Set New Price Targets

MOMO has been the subject of a number of analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of Hello Group in a report on Friday, March 27th. Zacks Research upgraded shares of Hello Group from a "strong sell" rating to a "hold" rating in a research note on Monday, December 15th. Finally, Jefferies Financial Group set a $8.10 target price on shares of Hello Group in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $8.10.

Hello Group Company Profile

Hello Group Inc NASDAQ: MOMO is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group's portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.

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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