Nuveen LLC Takes Position in Hello Group Inc. Sponsored ADR $MOMO

Nuveen LLC purchased a new position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 125,600 shares of the information services provider's stock, valued at approximately $793,000. Nuveen LLC owned about 0.10% of Hello Group as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MOMO. Hsbc Holdings PLC purchased a new position in Hello Group in the fourth quarter worth approximately $79,000. Aigen Investment Management LP purchased a new position in Hello Group in the first quarter worth approximately $85,000. Vident Advisory LLC lifted its stake in Hello Group by 34.0% in the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock worth $122,000 after acquiring an additional 4,009 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Hello Group by 14.2% in the first quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider's stock worth $157,000 after acquiring an additional 3,098 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Hello Group in the first quarter worth approximately $159,000. Hedge funds and other institutional investors own 50.96% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of 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 Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $10.00.

Hello Group Stock Performance

MOMO stock traded up $0.17 during midday trading on Friday, reaching $8.52. 934,225 shares of the company were exchanged, compared to its average volume of 555,180. Hello Group Inc. Sponsored ADR has a 1-year low of $5.12 and a 1-year high of $9.22. The stock's 50-day simple moving average is $8.39 and its 200 day simple moving average is $7.28. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 6.55 and a beta of 0.38.

Hello Group 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.