527,727 Shares in Hello Group Inc. Sponsored ADR $MOMO Bought by Walleye Capital LLC

Walleye Capital LLC acquired a new position in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 527,727 shares of the information services provider’s stock, valued at approximately $4,454,000. Walleye Capital LLC owned about 0.44% of Hello Group at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Hello Group in the 2nd quarter worth about $14,976,000. Causeway Capital Management LLC raised its position in Hello Group by 136.2% in the first quarter. Causeway Capital Management LLC now owns 2,089,913 shares of the information services provider’s stock worth $13,187,000 after acquiring an additional 1,205,166 shares during the period. Tiger Pacific Capital LP purchased a new position in Hello Group in the first quarter valued at about $6,268,000. Goldman Sachs Group Inc. boosted its stake in Hello Group by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock valued at $51,284,000 after acquiring an additional 546,048 shares during the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Hello Group during the 2nd quarter valued at approximately $4,017,000. 50.96% of the stock is owned by hedge funds and other institutional investors.

Hello Group Price Performance

Shares of MOMO stock opened at $7.06 on Friday. The stock has a market capitalization of $841.98 million, a price-to-earnings ratio of 7.93 and a beta of 0.31. The company’s fifty day simple moving average is $6.99 and its two-hundred day simple moving average is $7.63. Hello Group Inc. Sponsored ADR has a 1 year low of $5.12 and a 1 year high of $9.22.

Analyst Ratings Changes

Several research firms recently commented on MOMO. Weiss Ratings reiterated a “hold (c)” rating on shares of Hello Group in a research note on Monday, November 24th. Zacks Research cut Hello Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 16th. Finally, Wall Street Zen downgraded Hello Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.