Allianz Asset Management GmbH Boosts Position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)

Allianz Asset Management GmbH grew its stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,362 shares of the information services provider’s stock after buying an additional 28,278 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.24% of Hello Group worth $1,845,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hsbc Holdings PLC bought a new position in shares of Hello Group in the fourth quarter worth about $79,000. Vident Advisory LLC boosted its stake 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. QRG Capital Management Inc. boosted its stake in shares of Hello Group by 14.2% in the first quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider’s stock worth $157,000 after acquiring an additional 3,098 shares during the period. Marshall Wace LLP bought a new position in shares of Hello Group in the fourth quarter worth about $198,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Hello Group by 122.3% in the fourth quarter. NewEdge Advisors LLC now owns 27,155 shares of the information services provider’s stock worth $209,000 after acquiring an additional 14,937 shares during the period. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Hello Group from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.00.

Hello Group Trading Down 1.4%

Shares of Hello Group stock opened at $8.32 on Thursday. The stock has a 50 day moving average of $7.97 and a 200 day moving average of $7.12. Hello Group Inc. Sponsored ADR has a 12 month low of $5.12 and a 12 month high of $9.22. The firm has a market cap of $1.00 billion, a PE ratio of 6.40 and a beta of 0.43.

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.