Connor Clark & Lunn Investment Management Ltd. Has $295,000 Stake in Hello Group Inc. (NASDAQ:MOMO)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of Hello Group Inc. (NASDAQ:MOMOGet Rating) by 14.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,076 shares of the information services provider’s stock after selling 8,885 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hello Group were worth $295,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MOMO. US Bancorp DE raised its position in Hello Group by 49.6% during the 1st quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock worth $49,000 after purchasing an additional 2,819 shares during the last quarter. Shell Asset Management Co. raised its position in Hello Group by 5.6% during the 1st quarter. Shell Asset Management Co. now owns 70,381 shares of the information services provider’s stock worth $407,000 after purchasing an additional 3,742 shares during the last quarter. Victory Capital Management Inc. raised its position in Hello Group by 6.2% during the 1st quarter. Victory Capital Management Inc. now owns 68,244 shares of the information services provider’s stock worth $363,000 after purchasing an additional 3,986 shares during the last quarter. Banque Cantonale Vaudoise raised its position in Hello Group by 3,968.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 5,126 shares of the information services provider’s stock worth $30,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its position in shares of Hello Group by 62.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 14,855 shares of the information services provider’s stock worth $85,000 after acquiring an additional 5,715 shares in the last quarter. Institutional investors and hedge funds own 61.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MOMO. China Renaissance raised Hello Group from a “hold” rating to a “buy” rating in a research report on Wednesday, June 15th. TheStreet lowered Hello Group from a “c” rating to a “d” rating in a research report on Monday, June 13th. Benchmark lowered their price objective on Hello Group from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. Finally, Citigroup lowered their price objective on Hello Group from $8.10 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, June 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.75.

Hello Group Stock Performance

Shares of Hello Group stock opened at $5.32 on Tuesday. Hello Group Inc. has a one year low of $4.14 and a one year high of $13.99. The firm has a market capitalization of $841.48 million, a price-to-earnings ratio of -2.05 and a beta of 1.06. The business has a 50-day simple moving average of $4.78 and a 200 day simple moving average of $5.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.66 and a quick ratio of 5.66.

Hello Group (NASDAQ:MOMOGet Rating) last issued its earnings results on Thursday, September 1st. The information services provider reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $1.96. Hello Group had a negative return on equity of 28.45% and a negative net margin of 23.85%. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue was down 15.3% compared to the same quarter last year. On average, research analysts anticipate that Hello Group Inc. will post 0.67 earnings per share for the current fiscal year.

About Hello Group

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Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates Momo platform that includes its Momo mobile application, as well as various related properties, features, functionalities, tools, and services. The company's Momo mobile application connects people and facilitates interactions based on location and interests; and various recreational activities, including live talent shows, short videos, and social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke, and user participated reality shows.

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Institutional Ownership by Quarter for Hello Group (NASDAQ:MOMO)

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