Dymon Asia Capital Singapore PTE. LTD. Takes $2.49 Million Position in Hello Group Inc. Sponsored ADR $MOMO

Dymon Asia Capital Singapore PTE. LTD. purchased a new position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 295,500 shares of the information services provider’s stock, valued at approximately $2,494,000. Hello Group makes up approximately 0.3% of Dymon Asia Capital Singapore PTE. LTD.’s investment portfolio, making the stock its 9th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Hello Group during the 2nd quarter worth approximately $14,976,000. Causeway Capital Management LLC boosted its stake in shares of 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 valued at $13,187,000 after buying an additional 1,205,166 shares in the last quarter. Tiger Pacific Capital LP acquired a new position in Hello Group during the first quarter worth $6,268,000. Marshall Wace LLP raised its position in Hello Group by 882.9% in the second quarter. Marshall Wace LLP now owns 859,024 shares of the information services provider’s stock worth $7,250,000 after acquiring an additional 771,624 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position 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 worth $51,284,000 after acquiring an additional 546,048 shares in the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Stock Down 1.1%

Hello Group stock opened at $6.98 on Wednesday. The firm has a market capitalization of $832.43 million, a PE ratio of 7.84 and a beta of 0.31. Hello Group Inc. Sponsored ADR has a 52 week low of $5.12 and a 52 week high of $9.22. The firm’s 50-day simple moving average is $6.98 and its 200 day simple moving average is $7.65.

Analyst Upgrades and Downgrades

MOMO has been the topic of several research analyst reports. Zacks Research lowered shares of Hello Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Hello Group in a research report on Monday. Finally, Wall Street Zen cut shares of Hello Group from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.00.

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.