Squarepoint Ops LLC Lowers Stock Position in Hello Group Inc. (NASDAQ:MOMO)

Squarepoint Ops LLC reduced its holdings in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 61.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,461 shares of the information services provider's stock after selling 37,166 shares during the period. Squarepoint Ops LLC's holdings in Hello Group were worth $181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in shares of Hello Group in the fourth quarter worth approximately $10,765,000. BNP Paribas Financial Markets bought a new position in shares of Hello Group in the fourth quarter worth approximately $4,535,000. O Shaughnessy Asset Management LLC bought a new position in shares of Hello Group in the fourth quarter worth approximately $1,789,000. Millennium Management LLC grew its holdings in shares of Hello Group by 1,590.1% in the fourth quarter. Millennium Management LLC now owns 174,536 shares of the information services provider's stock worth $1,346,000 after purchasing an additional 164,209 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of Hello Group in the fourth quarter worth approximately $1,124,000. 50.96% of the stock is currently owned by institutional investors.

Hello Group Stock Performance

MOMO stock traded up $0.25 on Wednesday, reaching $8.32. The company's stock had a trading volume of 2,905,833 shares, compared to its average volume of 1,252,996. The business has a fifty day simple moving average of $6.04 and a two-hundred day simple moving average of $6.78. Hello Group Inc. has a 12-month low of $5.12 and a 12-month high of $8.43. The firm has a market cap of $1.00 billion, a PE ratio of 8.58, a PEG ratio of 2.07 and a beta of 0.31.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MOMO. Wall Street Zen upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Benchmark reaffirmed a "buy" rating and issued a $13.00 price target on shares of Hello Group in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $9.00.

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.