Assenagon Asset Management S.A. Cuts Stake in Hello Group Inc. Sponsored ADR $MOMO

Assenagon Asset Management S.A. lessened its stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 72.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,021 shares of the information services provider’s stock after selling 498,984 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of Hello Group worth $1,612,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MOMO. Goldman Sachs Group Inc. boosted its stake in shares of Hello Group by 7.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock worth $51,284,000 after purchasing an additional 546,048 shares during the last quarter. Acadian Asset Management LLC lifted its position in Hello Group by 5.2% during the first quarter. Acadian Asset Management LLC now owns 6,553,834 shares of the information services provider’s stock valued at $41,330,000 after buying an additional 322,603 shares in the last quarter. LSV Asset Management lifted its position in Hello Group by 25.4% during the first quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider’s stock valued at $17,365,000 after buying an additional 557,777 shares in the last quarter. Causeway Capital Management LLC lifted its position 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 valued at $13,187,000 after buying an additional 1,205,166 shares in the last quarter. Finally, Tiger Pacific Capital LP acquired a new position in Hello Group during the first quarter valued at approximately $6,268,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Hello Group Stock Down 0.4%

MOMO stock opened at $7.37 on Friday. The company has a market capitalization of $887.99 million, a P/E ratio of 8.28 and a beta of 0.38. The company has a 50-day simple moving average of $8.06 and a 200 day simple moving average of $7.28. Hello Group Inc. Sponsored ADR has a fifty-two week low of $5.12 and a fifty-two week high of $9.22.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Hello Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.00.

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.