GSA Capital Partners LLP Increases Holdings in Hello Group Inc. Sponsored ADR $MOMO

GSA Capital Partners LLP raised its holdings in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 129.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,263 shares of the information services provider’s stock after purchasing an additional 226,127 shares during the period. Hello Group accounts for about 0.2% of GSA Capital Partners LLP’s holdings, making the stock its 24th largest holding. GSA Capital Partners LLP owned about 0.34% of Hello Group worth $2,970,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MOMO. Raymond James Financial Inc. bought a new stake in Hello Group in the second quarter valued at $41,000. Loomis Sayles & Co. L P increased its position in shares of Hello Group by 322.1% during the second quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider’s stock valued at $45,000 after buying an additional 4,113 shares during the period. Bayesian Capital Management LP bought a new position in Hello Group in the second quarter worth about $126,000. Fox Run Management L.L.C. purchased a new stake in Hello Group in the second quarter worth about $153,000. Finally, ABN Amro Investment Solutions purchased a new stake in Hello Group in the third quarter worth about $178,000. 50.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MOMO. Weiss Ratings reissued a “hold (c)” rating on shares of Hello Group in a research report on Monday, December 22nd. Zacks Research upgraded shares of Hello Group from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Finally, Jefferies Financial Group set a $8.10 price target on shares of Hello Group in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Hello Group currently has a consensus rating of “Hold” and a consensus target price of $10.55.

Hello Group Stock Performance

NASDAQ:MOMO opened at $6.48 on Tuesday. The firm has a market cap of $772.80 million, a P/E ratio of 7.81 and a beta of 0.34. Hello Group Inc. Sponsored ADR has a fifty-two week low of $5.12 and a fifty-two week high of $9.22. The firm has a 50-day simple moving average of $6.70 and a two-hundred day simple moving average of $7.17.

Hello Group (NASDAQ:MOMO) last issued its earnings results on Wednesday, December 10th. The information services provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. Hello Group had a net margin of 5.96% and a return on equity of 10.07%. The firm had revenue of $372.16 million for the quarter, compared to the consensus estimate of $362.80 million. During the same quarter in the prior year, the firm posted $2.70 earnings per share. The business’s revenue was down .9% on a year-over-year basis. On average, equities research analysts predict that Hello Group Inc. Sponsored ADR will post 0.73 EPS for the current year.

About Hello Group

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.