Acadian Asset Management LLC Grows Stake in Hello Group Inc. Sponsored ADR $MOMO

Acadian Asset Management LLC increased its position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,629,672 shares of the information services provider’s stock after purchasing an additional 75,838 shares during the quarter. Acadian Asset Management LLC owned 5.50% of Hello Group worth $55,926,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. US Bancorp DE increased its position in shares of Hello Group by 3.9% in the first quarter. US Bancorp DE now owns 78,397 shares of the information services provider’s stock valued at $495,000 after buying an additional 2,978 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Hello Group by 13.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 291,465 shares of the information services provider’s stock valued at $2,460,000 after acquiring an additional 34,550 shares during the last quarter. Wellington Management Group LLP purchased a new position in Hello Group during the 1st quarter valued at about $120,000. Allianz Asset Management GmbH raised its position in Hello Group by 10.7% during the first quarter. Allianz Asset Management GmbH now owns 292,362 shares of the information services provider’s stock worth $1,845,000 after acquiring an additional 28,278 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in Hello Group during the first quarter worth about $1,387,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MOMO. Zacks Research cut shares of Hello Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 16th. Wall Street Zen cut Hello Group from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hello Group in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hello Group has an average rating of “Hold” and an average price target of $10.00.

Hello Group Trading Up 0.6%

NASDAQ MOMO opened at $6.75 on Monday. The business’s 50-day moving average price is $7.32 and its 200 day moving average price is $7.50. Hello Group Inc. Sponsored ADR has a twelve month low of $5.12 and a twelve month high of $9.22. The company has a market capitalization of $805.01 million, a PE ratio of 7.58 and a beta of 0.25.

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.