Hello Group Inc. Sponsored ADR $MOMO Stock Holdings Trimmed by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. lowered its holdings in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 19.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,227 shares of the information services provider’s stock after selling 21,374 shares during the period. Hello Group makes up 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.’s holdings in Hello Group were worth $762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of Hello Group in the 1st quarter worth $56,000. Nomura Holdings Inc. bought a new stake in shares of Hello Group in the 1st quarter worth $63,000. Aigen Investment Management LP bought a new stake in shares of Hello Group in the 1st quarter worth $85,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Hello Group in the 2nd quarter worth $85,000. Finally, Wellington Management Group LLP bought a new stake in shares of Hello Group in the 1st quarter worth $120,000. Institutional investors own 50.96% of the company’s stock.

Wall Street Analysts Forecast Growth

MOMO has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Hello Group in a research note on Wednesday. Wall Street Zen downgraded Hello Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Hello Group currently has a consensus rating of “Hold” and an average target price of $10.00.

Hello Group Stock Up 0.6%

Shares of Hello Group stock opened at $7.28 on Thursday. The stock’s fifty day moving average is $7.87 and its 200-day moving average is $7.31. The firm has a market capitalization of $868.21 million, a PE ratio of 8.18 and a beta of 0.23. Hello Group Inc. Sponsored ADR has a 12-month low of $5.12 and a 12-month high of $9.22.

Hello Group Company 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.