Swedbank AB Decreases Holdings in Hello Group Inc. Sponsored ADR $MOMO

Swedbank AB trimmed its holdings in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 8.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,000 shares of the information services provider’s stock after selling 4,600 shares during the period. Swedbank AB’s holdings in Hello Group were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MOMO. Strs Ohio acquired a new stake in shares of Hello Group during the first quarter worth about $212,000. Acadian Asset Management LLC boosted its position in shares of Hello Group by 5.2% in the 1st quarter. Acadian Asset Management LLC now owns 6,553,834 shares of the information services provider’s stock valued at $41,330,000 after purchasing an additional 322,603 shares during the period. Caxton Associates LLP acquired a new stake in shares of Hello Group in the 1st quarter valued at about $1,387,000. Goldman Sachs Group Inc. boosted its position in shares of Hello Group by 7.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock valued at $51,284,000 after purchasing an additional 546,048 shares during the period. Finally, Tiger Pacific Capital LP acquired a new stake in shares of Hello Group in the 1st quarter valued at about $6,268,000. 50.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Hello Group from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hello Group has a consensus rating of “Hold” and an average price target of $10.00.

Hello Group Trading Up 0.4%

Shares of MOMO stock opened at $7.65 on Wednesday. The company has a market cap of $921.75 million, a price-to-earnings ratio of 8.60 and a beta of 0.38. The stock has a 50 day simple moving average of $8.28 and a 200-day simple moving average of $7.27. Hello Group Inc. Sponsored ADR has a 12-month low of $5.12 and a 12-month high of $9.22.

Hello Group 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.