Tiger Pacific Capital LP Takes Position in Hello Group Inc. Sponsored ADR $MOMO

Key Points

• Tiger Pacific Capital LP acquired 993,408 shares of Hello Group Inc., valued at approximately $6.27 million, making it the fund's 8th largest holding.
• Wall Street analysts have recently upgraded Hello Group from a "hold" to a "buy" rating, with a consensus target price of $10.00.
• Hello Group's stock performance shows a market cap of $1.03 billion, with a price-to-earnings ratio of 6.55 and shares trading between $5.12 and $9.22 over the past year.

Tiger Pacific Capital LP 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 13F filing with the Securities & Exchange Commission. The fund purchased 993,408 shares of the information services provider's stock, valued at approximately $6,268,000. Hello Group comprises about 2.3% of Tiger Pacific Capital LP's holdings, making the stock its 8th largest holding. Tiger Pacific Capital LP owned about 0.82% of Hello Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Hello Group in the first quarter worth $56,000. Nomura Holdings Inc. bought a new stake in shares of Hello Group in the first quarter worth $63,000. Hsbc Holdings PLC bought a new stake in shares of Hello Group in the fourth quarter worth $79,000. Aigen Investment Management LP bought a new stake in shares of Hello Group in the first quarter worth $85,000. Finally, Wellington Management Group LLP bought a new stake in shares of Hello Group in the first quarter worth $120,000. Institutional investors own 50.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.00.

Hello Group Stock Up 0.1%

MOMO stock traded up $0.01 during trading on Friday, hitting $7.54. 465,877 shares of the company's stock traded hands, compared to its average volume of 1,134,022. Hello Group Inc. Sponsored ADR has a 52 week low of $5.12 and a 52 week high of $9.22. The stock has a fifty day moving average price of $8.34 and a two-hundred day moving average price of $7.28. The stock has a market capitalization of $907.87 million, a price-to-earnings ratio of 8.47 and a beta of 0.38.

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.