Hello Group Inc. Sponsored ADR $MOMO Shares Sold by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. decreased its position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 19.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,227 shares of the information services provider’s stock after selling 21,374 shares during the quarter. Hello Group accounts for approximately 0.7% of E Fund Management Hong Kong Co. Ltd.’s holdings, making the stock its 18th largest position. E Fund Management Hong Kong Co. Ltd. owned 0.07% of Hello Group worth $762,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of Hello Group in the 1st quarter worth approximately $56,000. Nomura Holdings Inc. acquired a new position in Hello Group during the 1st quarter valued at approximately $63,000. Aigen Investment Management LP acquired a new position in Hello Group during the 1st quarter valued at approximately $85,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Hello Group during the 2nd quarter valued at approximately $85,000. Finally, Wellington Management Group LLP acquired a new position in Hello Group during the 1st quarter valued at approximately $120,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Price Performance

Shares of Hello Group stock opened at $7.28 on Thursday. The business’s fifty day moving average price is $7.87 and its two-hundred day moving average price is $7.31. The company has a market capitalization of $868.21 million, a P/E ratio of 8.18 and a beta of 0.23. Hello Group Inc. Sponsored ADR has a 1-year low of $5.12 and a 1-year high of $9.22.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MOMO. Wall Street Zen lowered Hello Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings restated a “hold (c)” rating on shares of Hello Group in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.00.

About Hello Group

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.