New York State Common Retirement Fund Lowers Holdings in Hello Group Inc. Sponsored ADR $MOMO

New York State Common Retirement Fund reduced its stake in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 27.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 226,710 shares of the information services provider’s stock after selling 85,100 shares during the quarter. New York State Common Retirement Fund owned 0.19% of Hello Group worth $1,682,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Hello Group during the 3rd quarter worth approximately $2,069,000. Mitsubishi UFJ Trust & Banking Corp grew its position in Hello Group by 58.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 394,455 shares of the information services provider’s stock valued at $2,927,000 after buying an additional 145,362 shares during the period. Campbell & CO Investment Adviser LLC grew its position in Hello Group by 469.2% during the third quarter. Campbell & CO Investment Adviser LLC now owns 155,102 shares of the information services provider’s stock valued at $1,151,000 after buying an additional 127,853 shares during the period. Assenagon Asset Management S.A. increased its holdings in Hello Group by 406.6% in the third quarter. Assenagon Asset Management S.A. now owns 967,791 shares of the information services provider’s stock valued at $7,181,000 after buying an additional 776,770 shares in the last quarter. Finally, Polunin Capital Partners Ltd raised its position in shares of Hello Group by 25.9% in the third quarter. Polunin Capital Partners Ltd now owns 889,369 shares of the information services provider’s stock worth $6,644,000 after acquiring an additional 182,874 shares during the period. 50.96% of the stock is owned by institutional investors and hedge funds.

Hello Group Price Performance

Shares of MOMO stock opened at $6.56 on Monday. The company has a market capitalization of $782.35 million, a PE ratio of 7.90 and a beta of 0.34. The firm’s 50-day moving average is $6.75 and its two-hundred day moving average is $7.25. Hello Group Inc. Sponsored ADR has a 12 month low of $5.12 and a 12 month high of $9.22.

Hello Group (NASDAQ:MOMO) last released its quarterly earnings results on Wednesday, December 10th. The information services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Hello Group had a net margin of 5.96% and a return on equity of 10.07%. The firm had revenue of $372.16 million for the quarter, compared to analyst estimates of $362.80 million. During the same quarter in the previous year, the company earned $2.70 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts forecast that Hello Group Inc. Sponsored ADR will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MOMO. Weiss Ratings restated a “hold (c)” rating on shares of Hello Group in a research report on Monday, December 22nd. Zacks Research upgraded Hello Group from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Jefferies Financial Group set a $8.10 price objective on Hello Group in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.55.

Hello Group Profile

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.