National Bank of Canada FI Takes Position 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 purchased a new stake in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 195,000 shares of the information services provider's stock, valued at approximately $1,230,000. National Bank of Canada FI owned about 0.16% of Hello Group at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE lifted its position 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 worth $495,000 after purchasing an additional 2,978 shares during the period. Millennium Management LLC lifted its holdings in shares of 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 valued at $1,346,000 after purchasing an additional 164,209 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings 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 purchasing an additional 28,278 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Hello Group during the 4th quarter valued at $79,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Hello Group during the 4th quarter valued at $4,535,000. 50.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Hello Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $9.00.

Hello Group Trading Down 1.8%

Shares of NASDAQ MOMO traded down $0.15 during midday trading on Tuesday, reaching $7.99. The company had a trading volume of 596,999 shares, compared to its average volume of 1,150,798. The business's 50-day simple moving average is $8.44 and its 200 day simple moving average is $7.21. Hello Group Inc. Sponsored ADR has a 1 year low of $5.12 and a 1 year high of $9.22. The stock has a market cap of $962.72 million, a P/E ratio of 6.15 and a beta of 0.41.

About Hello Group

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.