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 bought a new position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 993,408 shares of the information services provider's stock, valued at approximately $6,268,000. Hello Group accounts for about 2.3% of Tiger Pacific Capital LP's investment portfolio, making the stock its 8th largest position. Tiger Pacific Capital LP owned approximately 0.82% of Hello Group at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MOMO. Causeway Capital Management LLC grew its stake 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 worth $13,187,000 after purchasing an additional 1,205,166 shares during the period. BNP Paribas Financial Markets acquired a new stake in Hello Group during the fourth quarter worth approximately $4,535,000. LSV Asset Management boosted its holdings in Hello Group by 25.4% in the first quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider's stock worth $17,365,000 after acquiring an additional 557,777 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Hello Group in the first quarter worth approximately $2,933,000. Finally, Jupiter Asset Management Ltd. bought a new position in Hello Group in the first quarter worth approximately $2,638,000. Institutional investors and hedge funds own 50.96% of the company's stock.

Hello Group Price Performance

Shares of MOMO stock traded down $0.24 during trading hours on Tuesday, reaching $7.88. The company had a trading volume of 2,844,547 shares, compared to its average volume of 659,797. Hello Group Inc. Sponsored ADR has a 12 month low of $5.12 and a 12 month high of $9.22. The business has a fifty day simple moving average of $8.37 and a 200-day simple moving average of $7.28. The company has a market cap of $949.46 million, a price-to-earnings ratio of 6.06 and a beta of 0.38.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded 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 assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Hello Group has a consensus rating of "Hold" and an average price target of $10.00.

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.