Hello Group Inc. Sponsored ADR $MOMO Shares Bought by Jump Financial LLC

Key Points

• Jump Financial LLC increased its stake in Hello Group Inc. by 22.8%, acquiring an additional 33,183 shares to reach 179,016 shares worth approximately $1.13 million.
• Multiple institutional investors have added to their holdings in Hello Group, with Allianz Asset Management and Millennium Management significantly increasing their stakes in recent quarters.
• Wall Street analyst ratings for Hello Group have improved, with a recent upgrade from "hold" to "buy," contributing to an average price target of $9.00 for the stock.

Jump Financial LLC lifted its holdings in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 22.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,016 shares of the information services provider's stock after acquiring an additional 33,183 shares during the quarter. Jump Financial LLC owned approximately 0.15% of Hello Group worth $1,130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MOMO. NewEdge Advisors LLC raised its holdings in shares of Hello Group by 122.3% during the fourth quarter. NewEdge Advisors LLC now owns 27,155 shares of the information services provider's stock valued at $209,000 after acquiring an additional 14,937 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Hello Group during the fourth quarter valued at approximately $198,000. Hsbc Holdings PLC bought a new position in shares of Hello Group during the fourth quarter valued at approximately $79,000. Northern Trust Corp raised its holdings in Hello Group by 53.3% in the fourth quarter. Northern Trust Corp now owns 390,686 shares of the information services provider's stock worth $3,012,000 after purchasing an additional 135,879 shares in the last quarter. Finally, AXA S.A. raised its holdings in Hello Group by 125.3% in the fourth quarter. AXA S.A. now owns 42,278 shares of the information services provider's stock worth $326,000 after purchasing an additional 23,516 shares in the last quarter. Institutional investors own 50.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Hello Group has a consensus rating of "Hold" and a consensus price target of $10.00.

Hello Group Trading Up 0.1%

Shares of Hello Group stock traded up $0.01 on Wednesday, hitting $8.30. The stock had a trading volume of 483,115 shares, compared to its average volume of 1,113,777. The stock has a market cap of $999.46 million, a price-to-earnings ratio of 6.38 and a beta of 0.38. Hello Group Inc. Sponsored ADR has a 52-week low of $5.12 and a 52-week high of $9.22. The company's 50 day moving average price is $8.40 and its 200 day moving average price is $7.27.

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.