LSV Asset Management Grows Position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)

Key Points

• LSV Asset Management increased its stake in Hello Group Inc. by 25.4%, acquiring an additional 557,777 shares, bringing its total holdings to approximately 2.75 million shares valued at $17.37 million.
• Other institutional investors, including Cetera Investment Advisers and US Bancorp DE, also expanded their positions in Hello Group, resulting in institutional ownership reaching 50.96% of the company's stock.
• Hello Group's shares recently traded at $7.96, with a market capitalization of $959.10 million and a consensus rating of "Hold" with an average target price of $9.00.

LSV Asset Management increased its position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,751,975 shares of the information services provider's stock after acquiring an additional 557,777 shares during the period. LSV Asset Management owned about 2.28% of Hello Group worth $17,365,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers increased its holdings in shares of Hello Group by 3.6% in the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider's stock valued at $500,000 after acquiring an additional 2,280 shares during the last quarter. US Bancorp DE increased its holdings in shares of Hello Group by 3.9% in the 1st quarter. US Bancorp DE now owns 78,397 shares of the information services provider's stock valued at $495,000 after acquiring an additional 2,978 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Hello Group by 14.2% in the 1st quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider's stock valued at $157,000 after acquiring an additional 3,098 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Hello Group by 34.0% in the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock valued at $122,000 after acquiring an additional 4,009 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Hello Group in the 4th quarter valued at about $79,000. Institutional investors and hedge funds 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.00.

Hello Group Stock Down 0.9%

NASDAQ:MOMO traded down $0.08 during mid-day trading on Friday, reaching $8.07. 181,017 shares of the stock were exchanged, compared to its average volume of 1,175,566. The company has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $7.17. The stock has a market capitalization of $971.73 million, a P/E ratio of 6.20 and a beta of 0.41. Hello Group Inc. Sponsored ADR has a 1 year low of $5.12 and a 1 year high of $9.22.

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.