Public Employees Retirement System of Ohio Has $2.46 Million Stake in Hello Group Inc. Sponsored ADR $MOMO

Public Employees Retirement System of Ohio lifted its position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 13.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,465 shares of the information services provider’s stock after acquiring an additional 34,550 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.24% of Hello Group worth $2,460,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MOMO. Causeway Capital Management LLC boosted its holdings in shares of Hello Group by 136.2% during the 1st quarter. Causeway Capital Management LLC now owns 2,089,913 shares of the information services provider’s stock valued at $13,187,000 after acquiring an additional 1,205,166 shares in the last quarter. Tiger Pacific Capital LP acquired a new stake in shares of Hello Group during the 1st quarter valued at $6,268,000. LSV Asset Management boosted its holdings in shares of Hello Group by 25.4% during the 1st quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider’s stock valued at $17,365,000 after acquiring an additional 557,777 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings 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 valued at $51,284,000 after acquiring an additional 546,048 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Hello Group during the 1st quarter worth about $2,933,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Hello Group from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Hello Group has a consensus rating of “Hold” and an average target price of $10.00.

Hello Group Trading Up 1.2%

MOMO stock opened at $7.56 on Friday. The stock has a 50-day moving average price of $7.96 and a 200-day moving average price of $7.29. Hello Group Inc. Sponsored ADR has a 1-year low of $5.12 and a 1-year high of $9.22. The firm has a market cap of $910.88 million, a PE ratio of 8.49 and a beta of 0.23.

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.