National Bank of Canada FI Makes New Investment in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• The National Bank of Canada FI has acquired 195,000 shares of Hello Group Inc. ADR, valued at approximately $1,230,000, representing 0.16% ownership at the end of the reporting period.
• Analysts have upgraded Hello Group from a "hold" to a "buy" rating, with a current consensus rating of "Hold" and a price target of $9.00.
• Over 50% of Hello Group's stock is owned by institutional investors and hedge funds, indicating strong interest in the company from significant market players.

National Bank of Canada FI acquired a new stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 195,000 shares of the information services provider's stock, valued at approximately $1,230,000. National Bank of Canada FI owned 0.16% of Hello Group as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MOMO. LPL Financial LLC lifted its holdings in shares of Hello Group by 813.1% in the fourth quarter. LPL Financial LLC now owns 101,277 shares of the information services provider's stock valued at $781,000 after buying an additional 90,186 shares during the period. XTX Topco Ltd lifted its holdings in shares of Hello Group by 47.8% during the fourth quarter. XTX Topco Ltd now owns 77,901 shares of the information services provider's stock valued at $601,000 after purchasing an additional 25,181 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Hello Group during the fourth quarter valued at $1,124,000. NewEdge Advisors LLC boosted its position in shares of Hello Group by 122.3% in 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 during the period. Finally, Marshall Wace LLP purchased a new position in Hello Group in the 4th quarter worth about $198,000. Institutional investors and hedge funds own 50.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Hello Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Hello Group currently has an average rating of "Hold" and a consensus price target of $9.00.

Hello Group Stock Performance

MOMO traded up $0.13 during trading on Thursday, reaching $8.13. The company had a trading volume of 343,120 shares, compared to its average volume of 620,925. The firm's 50-day simple moving average is $8.43 and its 200 day simple moving average is $7.23. The company has a market cap of $979.58 million, a price-to-earnings ratio of 6.25 and a beta of 0.41. Hello Group Inc. Sponsored ADR has a 12-month low of $5.12 and a 12-month 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.