SG Americas Securities LLC Sells 16,826 Shares of Hello Group Inc. (NASDAQ:MOMO)

SG Americas Securities LLC reduced its stake in Hello Group Inc. (NASDAQ:MOMOGet Rating) by 37.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,614 shares of the information services provider’s stock after selling 16,826 shares during the period. SG Americas Securities LLC’s holdings in Hello Group were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. US Bancorp DE boosted its stake in shares of Hello Group by 49.6% in the first quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock valued at $49,000 after buying an additional 2,819 shares during the period. Cetera Investment Advisers boosted its stake in shares of Hello Group by 5.4% in the first quarter. Cetera Investment Advisers now owns 56,450 shares of the information services provider’s stock valued at $326,000 after buying an additional 2,900 shares during the period. Platinum Investment Management Ltd. boosted its stake in shares of Hello Group by 57.0% in the first quarter. Platinum Investment Management Ltd. now owns 9,871 shares of the information services provider’s stock valued at $57,000 after buying an additional 3,585 shares during the period. Shell Asset Management Co. boosted its stake in shares of Hello Group by 5.6% in the first quarter. Shell Asset Management Co. now owns 70,381 shares of the information services provider’s stock valued at $407,000 after buying an additional 3,742 shares during the period. Finally, Victory Capital Management Inc. raised its position in Hello Group by 6.2% during the first quarter. Victory Capital Management Inc. now owns 68,244 shares of the information services provider’s stock valued at $363,000 after purchasing an additional 3,986 shares in the last quarter. 61.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Hello Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.33.

Hello Group Stock Up 16.0 %

Shares of MOMO opened at $5.58 on Monday. The firm has a 50 day simple moving average of $4.90 and a two-hundred day simple moving average of $4.97. The company has a market cap of $881.19 million, a P/E ratio of -2.15 and a beta of 1.04. 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 Inc. has a one year low of $4.09 and a one year high of $13.99.

Hello Group (NASDAQ:MOMOGet Rating) last announced its quarterly earnings results on Thursday, September 1st. The information services provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.06 billion. Hello Group had a negative net margin of 23.85% and a negative return on equity of 28.45%. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. Research analysts forecast that Hello Group Inc. will post 0.81 EPS for the current fiscal year.

Hello Group Company Profile

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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.

See Also

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

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