Public Employees Retirement System of Ohio Takes $1.09 Million Position in Hello Group Inc. Sponsored ADR $MOMO

Public Employees Retirement System of Ohio acquired a new position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 187,341 shares of the information services provider’s stock, valued at approximately $1,087,000.

Several other institutional investors have also recently modified their holdings of MOMO. Assenagon Asset Management S.A. purchased a new stake in Hello Group in the 2nd quarter valued at approximately $6,176,000. Athos Capital Ltd purchased a new position in Hello Group during the fourth quarter worth $47,359,000. LSV Asset Management raised its holdings in shares of Hello Group by 21.3% in the fourth quarter. LSV Asset Management now owns 3,565,971 shares of the information services provider’s stock worth $23,357,000 after acquiring an additional 626,152 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in shares of Hello Group in the fourth quarter valued at $135,000. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Hello Group in the second quarter valued at $26,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Stock Down 2.0%

MOMO stock opened at $5.26 on Wednesday. Hello Group Inc. Sponsored ADR has a 52-week low of $5.05 and a 52-week high of $8.01. The stock’s fifty day simple moving average is $5.82 and its 200-day simple moving average is $5.95. The stock has a market capitalization of $565.82 million, a price-to-earnings ratio of 5.37 and a beta of 0.45.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings data on Thursday, September 3rd. The information services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Hello Group had a return on equity of 10.43% and a net margin of 11.02%.The business had revenue of $365.91 million during the quarter, compared to the consensus estimate of $363.62 million. During the same quarter in the previous year, the business earned ($0.58) earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis.

Analyst Ratings Changes

A number of research firms recently commented on MOMO. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hello Group in a research report on Monday, August 3rd. UBS Group set a $10.00 target price on shares of Hello Group in a report on Thursday, June 4th. Wall Street Zen cut shares of Hello Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Finally, Benchmark reiterated a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.05.

Hello Group Company Profile

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.