OMERS ADMINISTRATION Corp Takes Position in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• OMERS ADMINISTRATION Corp has acquired a new stake in Hello Group Inc., purchasing 61,600 shares valued at approximately $389,000, which constitutes 0.05% of the company.
• Several institutional investors have increased their positions in Hello Group, with Cetera Investment Advisers and US Bancorp DE among those raising their stakes by over 3% in recent months.
• Wall Street analysts have revised their ratings for Hello Group, with one upgrading the stock from a "hold" to a "buy", while the stock currently has an average price target of $10.00.

OMERS ADMINISTRATION Corp acquired a new position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 61,600 shares of the information services provider's stock, valued at approximately $389,000. OMERS ADMINISTRATION Corp owned 0.05% of Hello Group at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Causeway Capital Management LLC increased its holdings in Hello Group by 136.2% during the first quarter. Causeway Capital Management LLC now owns 2,089,913 shares of the information services provider's stock valued at $13,187,000 after buying an additional 1,205,166 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Hello Group in the 4th quarter valued at about $4,535,000. LSV Asset Management raised its position in Hello Group by 25.4% during the 1st quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider's stock worth $17,365,000 after buying an additional 557,777 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Hello Group in the 1st quarter valued at $2,638,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Hello Group during the 1st quarter worth $1,519,000. Institutional investors own 50.96% of the company's stock.

Hello Group Price Performance

Shares of NASDAQ MOMO traded down $0.43 during midday trading on Monday, hitting $8.10. The stock had a trading volume of 1,344,708 shares, compared to its average volume of 1,114,794. Hello Group Inc. Sponsored ADR has a fifty-two week low of $5.12 and a fifty-two week high of $9.22. The firm has a market cap of $975.37 million, a P/E ratio of 6.21 and a beta of 0.38. The company's 50-day simple moving average is $8.39 and its 200 day simple moving average is $7.28.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Hello Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $10.00.

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.