Quadrature Capital Ltd grew its position in shares of Hello Group Inc. (NASDAQ:MOMO – Get Rating) by 294.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 50,735 shares of the information services provider’s stock after buying an additional 37,872 shares during the quarter. Quadrature Capital Ltd’s holdings in Hello Group were worth $234,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in MOMO. Quantbot Technologies LP acquired a new stake in Hello Group in the first quarter valued at about $32,000. US Bancorp DE lifted its position in shares of Hello Group by 49.6% during the 1st quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 2,819 shares during the period. Creative Planning acquired a new stake in shares of Hello Group during the 2nd quarter valued at approximately $52,000. Quadrant Capital Group LLC lifted its position in shares of Hello Group by 206.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 11,965 shares of the information services provider’s stock valued at $60,000 after acquiring an additional 8,066 shares during the period. Finally, Wetherby Asset Management Inc. purchased a new position in shares of Hello Group during the 1st quarter worth approximately $66,000. Institutional investors and hedge funds own 60.15% of the company’s stock.
Analysts Set New Price Targets
Several analysts have commented on the stock. Morgan Stanley cut shares of Hello Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $9.00 to $12.00 in a research note on Thursday, February 16th. StockNews.com upgraded shares of Hello Group from a “hold” rating to a “buy” rating in a report on Thursday, February 16th. Finally, Citigroup lifted their price target on shares of Hello Group from $5.80 to $7.00 in a report on Friday, December 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.
Hello Group Trading Up 1.1 %
Hello Group Profile
Hello Group, Inc operates as a mobile-based social networking platform. It operates under the following segments: Momo’s service lines, Tantan’s service lines, and QOOL’s service line. The company was founded by Yan Tang, Yong Li, Xiao Liang Lei and Zhiwei Li in July 2011 and is headquartered in Beijing, China.
- Get a free copy of the StockNews.com research report on Hello Group (MOMO)
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