Hello Group Inc. (NASDAQ:MOMO) Stake Raised by Acadian Asset Management LLC

Acadian Asset Management LLC grew its holdings in shares of Hello Group Inc. (NASDAQ:MOMO) by 26.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,377,789 shares of the information services provider’s stock after purchasing an additional 1,538,632 shares during the period. Acadian Asset Management LLC owned approximately 0.05% of Hello Group worth $45,781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MOMO. Headlands Technologies LLC acquired a new position in shares of Hello Group in the 4th quarter worth $28,000. Tower Research Capital LLC TRC boosted its position in shares of Hello Group by 10,987.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,311 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 10,218 shares during the period. D Orazio & Associates Inc. purchased a new position in Hello Group in the 4th quarter worth about $79,000. SG Americas Securities LLC acquired a new stake in Hello Group during the 4th quarter worth about $124,000. Finally, Moody Aldrich Partners LLC purchased a new stake in Hello Group during the fourth quarter valued at about $131,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Stock Up 3.5 %

Shares of MOMO traded up $0.23 during midday trading on Monday, reaching $6.80. 841,961 shares of the stock were exchanged, compared to its average volume of 1,945,129. The company has a market cap of $985.31 million, a price-to-earnings ratio of 6.11, a P/E/G ratio of 1.96 and a beta of 0.51. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.17. Hello Group Inc. has a 12-month low of $4.79 and a 12-month high of $11.12. The firm has a 50 day simple moving average of $5.97 and a 200-day simple moving average of $6.11.

Hello Group (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, May 28th. The information services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.48 billion. Hello Group had a net margin of 13.38% and a return on equity of 13.61%. Hello Group’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. Research analysts forecast that Hello Group Inc. will post 0.75 EPS for the current year.

Wall Street Analysts Forecast Growth

MOMO has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded shares of Hello Group from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $13.00 to $6.00 in a research report on Monday, June 3rd. Citigroup dropped their target price on Hello Group from $6.40 to $5.70 and set a “neutral” rating on the stock in a report on Wednesday, May 29th. Morgan Stanley cut shares of Hello Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, May 15th. Finally, Benchmark lowered their price objective on shares of Hello Group from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.90.

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.