Hello Group Inc. (NASDAQ:MOMO) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in shares of Hello Group Inc. (NASDAQ:MOMO) by 38.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 690,005 shares of the information services provider’s stock after selling 427,484 shares during the period. Assenagon Asset Management S.A. owned about 0.48% of Hello Group worth $4,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of Hello Group in the fourth quarter worth about $35,000. Hsbc Holdings PLC acquired a new position in shares of Hello Group in the fourth quarter worth about $79,000. Vident Advisory LLC raised its position in shares of 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 period. Quantbot Technologies LP acquired a new position in shares of Hello Group in the fourth quarter worth about $148,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of Hello Group in the fourth quarter worth about $158,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Stock Down 0.8%

MOMO opened at $8.27 on Monday. Hello Group Inc. has a twelve month low of $5.12 and a twelve month high of $8.43. The company has a 50-day moving average price of $6.16 and a 200 day moving average price of $6.81. The company has a market cap of $996.43 million, a PE ratio of 8.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.31.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Hello Group from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Benchmark reiterated a “buy” rating and issued a $13.00 price objective on shares of Hello Group in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.