Allianz Asset Management GmbH Cuts Stake in Hello Group Inc. Sponsored ADR $MOMO

Allianz Asset Management GmbH reduced its stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 39.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,011 shares of the information services provider’s stock after selling 116,351 shares during the period. Allianz Asset Management GmbH owned approximately 0.15% of Hello Group worth $1,486,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of Hello Group by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock valued at $51,284,000 after buying an additional 546,048 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of 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 during the last quarter. LSV Asset Management boosted its position in shares of 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 during the last quarter. Causeway Capital Management LLC boosted its position in shares of 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 during the last quarter. Finally, Tiger Pacific Capital LP purchased a new stake in shares of Hello Group during the first quarter valued at $6,268,000. 50.96% of the stock is owned by hedge funds and other institutional investors.

Hello Group Price Performance

NASDAQ MOMO opened at $6.89 on Friday. The stock’s 50-day moving average price is $7.59 and its 200-day moving average price is $7.38. 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 capitalization of $821.70 million, a P/E ratio of 7.74 and a beta of 0.23.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen cut Hello Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hello Group in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded Hello Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 16th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target 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.