Jupiter Asset Management Ltd. Buys Shares of 418,000 Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)

Key Points

• Jupiter Asset Management Ltd. acquired 418,000 shares of Hello Group Inc. during the first quarter, valued at approximately $2,638,000, representing a 0.35% ownership stake in the company.
• Wall Street analysts have upgraded Hello Group's stock from a "hold" rating to a "buy" rating, with a consensus target price of $9.00.
• Hello Group's stock is currently trading at $8.02, down 2.6%, with a market cap of $966.33 million and a 52-week range of $5.12 to $9.22.

Jupiter Asset Management Ltd. purchased a new stake in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 418,000 shares of the information services provider's stock, valued at approximately $2,638,000. Jupiter Asset Management Ltd. owned 0.35% of Hello Group as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in Hello Group by 1,590.1% during the 4th quarter. Millennium Management LLC now owns 174,536 shares of the information services provider's stock worth $1,346,000 after purchasing an additional 164,209 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Hello Group by 10.7% during the 1st quarter. Allianz Asset Management GmbH now owns 292,362 shares of the information services provider's stock valued at $1,845,000 after acquiring an additional 28,278 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Hello Group in the fourth quarter worth about $79,000. BNP Paribas Financial Markets bought a new stake in Hello Group in the fourth quarter valued at approximately $4,535,000. Finally, Norges Bank acquired a new position in Hello Group during the fourth quarter worth $10,765,000. Hedge funds and other institutional investors own 50.96% of the company's stock.

Hello Group Stock Up 0.3%

Shares of Hello Group stock traded up $0.03 during trading hours on Thursday, reaching $8.13. 231,471 shares of the company's stock were exchanged, compared to its average volume of 1,181,210. The business has a fifty day moving average of $8.21 and a two-hundred day moving average of $7.17. Hello Group Inc. Sponsored ADR has a 1 year low of $5.12 and a 1 year high of $9.22. The company has a market capitalization of $978.98 million, a P/E ratio of 6.25 and a beta of 0.41.

Wall Street Analyst Weigh In

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. 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 company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $9.00.

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.