US Bancorp DE Increases Position in Hello Group Inc. Sponsored ADR $MOMO

US Bancorp DE boosted its holdings in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,945 shares of the information services provider’s stock after acquiring an additional 12,548 shares during the period. US Bancorp DE owned 0.08% of Hello Group worth $768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its position in shares of Hello Group by 14.2% during the 1st quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider’s stock worth $157,000 after purchasing an additional 3,098 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Hello Group by 352.2% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 111,601 shares of the information services provider’s stock valued at $704,000 after buying an additional 86,923 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Hello Group by 10.7% in the 1st quarter. Allianz Asset Management GmbH now owns 292,362 shares of the information services provider’s stock valued at $1,845,000 after buying an additional 28,278 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Hello Group in the 1st quarter valued at $159,000. Finally, XTX Topco Ltd grew its position in shares of Hello Group by 17.5% in the 1st quarter. XTX Topco Ltd now owns 91,504 shares of the information services provider’s stock valued at $577,000 after buying an additional 13,603 shares during the last quarter. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Price Performance

MOMO opened at $6.83 on Friday. The company has a 50 day moving average of $7.71 and a two-hundred day moving average of $7.34. Hello Group Inc. Sponsored ADR has a 52-week low of $5.12 and a 52-week high of $9.22. The company has a market cap of $814.55 million, a P/E ratio of 7.67 and a beta of 0.23.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Zacks Research downgraded shares of Hello Group from a “hold” rating to a “strong sell” rating in a research report on Thursday. Wall Street Zen cut shares of Hello Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hello Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Hello Group presently has an average rating of “Reduce” and an average 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.