Maven Securities LTD Acquires New Shares in Hello Group Inc. Sponsored ADR $MOMO

Maven Securities LTD bought a new stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) during the second quarter, HoldingsChannel.com reports. The firm bought 143,560 shares of the information services provider’s stock, valued at approximately $833,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MOMO. Goldman Sachs Group Inc. boosted its stake in shares of Hello Group by 7.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock valued at $51,284,000 after purchasing an additional 546,048 shares in the last quarter. Geode Capital Management LLC increased its position in Hello Group by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider’s stock worth $2,362,000 after purchasing an additional 10,944 shares in the last quarter. JPMorgan Chase & Co. increased its position in Hello Group by 111.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 315,918 shares of the information services provider’s stock worth $2,666,000 after purchasing an additional 166,227 shares in the last quarter. Legal & General Group Plc lifted its stake in Hello Group by 31.7% in the 2nd quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider’s stock valued at $336,000 after purchasing an additional 9,597 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Hello Group by 231.1% in the 2nd quarter. Hsbc Holdings PLC now owns 38,864 shares of the information services provider’s stock valued at $329,000 after purchasing an additional 27,125 shares during the last quarter. Institutional investors own 50.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MOMO. Benchmark reaffirmed a “buy” rating on shares of Hello Group in a research note on Thursday, June 4th. UBS Group set a $10.00 price target on Hello Group in a research note on Thursday, June 4th. Wall Street Zen downgraded Hello Group from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Hello Group in a research report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.05.

Hello Group Price Performance

NASDAQ:MOMO opened at $5.26 on Wednesday. Hello Group Inc. Sponsored ADR has a one year low of $5.05 and a one year high of $8.01. The company has a market cap of $565.82 million, a PE ratio of 5.37 and a beta of 0.45. The firm’s 50 day simple moving average is $5.82 and its 200 day simple moving average is $5.95.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings results on Thursday, September 3rd. The information services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $365.91 million during the quarter, compared to analysts’ expectations of $363.62 million. Hello Group had a net margin of 11.02% and a return on equity of 10.43%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.58) EPS.

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.