Hello Group Inc. (NASDAQ:MOMO) Shares Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lifted its position in shares of Hello Group Inc. (NASDAQ:MOMO) by 370.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 998,508 shares of the information services provider’s stock after purchasing an additional 786,300 shares during the quarter. Jupiter Asset Management Ltd. owned 0.53% of Hello Group worth $9,596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MOMO. E Fund Management Hong Kong Co. Ltd. grew its stake in Hello Group by 135.8% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 91,567 shares of the information services provider’s stock valued at $510,000 after acquiring an additional 52,742 shares during the period. Advisor Group Holdings Inc. grew its stake in 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 valued at $85,000 after acquiring an additional 5,715 shares during the period. American Century Companies Inc. grew its stake in Hello Group by 47.5% in the 1st quarter. American Century Companies Inc. now owns 113,804 shares of the information services provider’s stock valued at $658,000 after acquiring an additional 36,655 shares during the period. US Bancorp DE grew its stake in Hello Group by 49.6% in 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. Finally, BlackRock Inc. grew its stake in Hello Group by 25.7% in the 1st quarter. BlackRock Inc. now owns 10,989,045 shares of the information services provider’s stock valued at $63,517,000 after acquiring an additional 2,245,152 shares during the period. Institutional investors and hedge funds own 53.94% of the company’s stock.

Hello Group Stock Down 1.3 %

NASDAQ MOMO opened at $6.97 on Friday. Hello Group Inc. has a 52 week low of $4.86 and a 52 week high of $11.54. The business’s fifty day simple moving average is $7.07 and its 200-day simple moving average is $8.58. The firm has a market cap of $1.32 billion, a PE ratio of 5.45 and a beta of 0.93.

Hello Group (NASDAQ:MOMO) last posted its quarterly earnings results on Thursday, August 31st. The information services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. Hello Group had a return on equity of 16.70% and a net margin of 14.53%. The business had revenue of $432.71 million for the quarter, compared to analyst estimates of $423.77 million. Research analysts expect that Hello Group Inc. will post 1.43 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TheStreet raised shares of Hello Group from a “c” rating to a “b-” rating in a research note on Thursday, August 31st. Benchmark restated a “buy” rating and issued a $22.00 price objective on shares of Hello Group in a report on Friday, September 1st. StockNews.com initiated coverage on Hello Group in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, BOCOM International lowered Hello Group from a “buy” rating to a “neutral” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Hello Group has an average rating of “Moderate Buy” and an average price target of $13.30.

Hello Group Profile

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. 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.