Hello Group Inc. Sponsored ADR $MOMO Stock Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 142.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 767,326 shares of the information services provider’s stock after purchasing an additional 451,408 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hello Group were worth $5,694,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake 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 purchasing an additional 546,048 shares in the last quarter. Geode Capital Management LLC raised its stake in Hello Group by 4.1% during the second quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider’s stock valued at $2,362,000 after buying an additional 10,944 shares in the last quarter. Legal & General Group Plc lifted its holdings in Hello Group by 31.7% during the 2nd quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider’s stock worth $336,000 after buying an additional 9,597 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Hello Group by 231.1% during the 2nd quarter. Hsbc Holdings PLC now owns 38,864 shares of the information services provider’s stock worth $329,000 after buying an additional 27,125 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Hello Group in the 2nd quarter worth approximately $14,976,000. Institutional investors own 50.96% of the company’s stock.

Hello Group Stock Up 1.7%

Shares of NASDAQ MOMO opened at $5.86 on Thursday. The firm’s 50-day moving average price is $6.37 and its two-hundred day moving average price is $6.75. Hello Group Inc. Sponsored ADR has a 52-week low of $5.12 and a 52-week high of $9.22. The stock has a market capitalization of $698.86 million, a P/E ratio of 8.75 and a beta of 0.42.

Hello Group Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, April 10th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, April 10th. This represents a yield of 486.0%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MOMO shares. Jefferies Financial Group set a $8.10 price target on Hello Group in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hello Group in a report on Friday, March 27th. Finally, Zacks Research upgraded shares of Hello Group from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.10.

Hello Group 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.