AIA Group Ltd Takes $247,000 Position in Hello Group Inc. (NASDAQ:MOMO)

AIA Group Ltd purchased a new stake in Hello Group Inc. (NASDAQ:MOMOGet Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,668 shares of the information services provider’s stock, valued at approximately $247,000.

Several other hedge funds also recently added to or reduced their stakes in MOMO. SG Americas Securities LLC boosted its holdings in Hello Group by 133.4% in the fourth quarter. SG Americas Securities LLC now owns 60,055 shares of the information services provider’s stock valued at $539,000 after purchasing an additional 34,328 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Hello Group by 135.8% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 91,567 shares of the information services provider’s stock valued at $510,000 after purchasing an additional 52,742 shares during the last quarter. Greenleaf Trust purchased a new stake in Hello Group in the first quarter valued at $211,000. Signaturefd LLC boosted its holdings in Hello Group by 86.6% in the first quarter. Signaturefd LLC now owns 14,268 shares of the information services provider’s stock valued at $82,000 after purchasing an additional 6,623 shares during the last quarter. Finally, abrdn plc boosted its holdings in Hello Group by 209.8% in the first quarter. abrdn plc now owns 48,270 shares of the information services provider’s stock valued at $279,000 after purchasing an additional 32,691 shares during the last quarter. 60.44% of the stock is owned by hedge funds and other institutional investors.

Hello Group Stock Down 4.1 %

MOMO opened at $4.49 on Friday. Hello Group Inc. has a twelve month low of $4.14 and a twelve month high of $13.99. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $5.09 and a 200 day moving average price of $6.40. The company has a market cap of $710.20 million, a PE ratio of -1.79 and a beta of 1.14.

Hello Group (NASDAQ:MOMOGet Rating) last released its quarterly earnings results on Tuesday, June 7th. The information services provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.34. Hello Group had a negative net margin of 21.82% and a negative return on equity of 24.64%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. Sell-side analysts expect that Hello Group Inc. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on MOMO. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Benchmark decreased their price objective on shares of Hello Group from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. TheStreet downgraded shares of Hello Group from a “c” rating to a “d” rating in a research report on Monday, June 13th. Citigroup decreased their price objective on shares of Hello Group from $8.10 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, June 8th. Finally, China Renaissance upgraded shares of Hello Group from a “hold” rating to a “buy” rating in a research report on Wednesday, June 15th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.75.

Hello Group Company Profile

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Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates Momo platform that includes its Momo mobile application, as well as various related properties, features, functionalities, tools, and services. The company's Momo mobile application connects people and facilitates interactions based on location and interests; and various recreational activities, including live talent shows, short videos, and social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke, and user participated reality shows.

See Also

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Institutional Ownership by Quarter for Hello Group (NASDAQ:MOMO)

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