Geode Capital Management LLC Has $2 Million Stock Position in Hello Group Inc. (NASDAQ:MOMO)

Geode Capital Management LLC reduced its holdings in Hello Group Inc. (NASDAQ:MOMO) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,127 shares of the information services provider’s stock after selling 6,303 shares during the period. Geode Capital Management LLC owned about 0.18% of Hello Group worth $2,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in Hello Group in the 2nd quarter worth approximately $22,553,000. Dimensional Fund Advisors LP lifted its stake in shares of Hello Group by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock worth $22,736,000 after buying an additional 633,746 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Hello Group by 472.1% during the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after buying an additional 3,196 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Hello Group by 105.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,030 shares of the information services provider’s stock valued at $160,000 after buying an additional 10,818 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Hello Group by 22.6% in the 2nd quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock worth $4,417,000 after acquiring an additional 133,113 shares during the period. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Trading Down 2.5 %

Shares of NASDAQ MOMO opened at $6.90 on Thursday. The company has a fifty day moving average price of $7.07 and a 200 day moving average price of $6.85. The firm has a market cap of $999.80 million, a PE ratio of 7.11, a PEG ratio of 2.40 and a beta of 0.48. Hello Group Inc. has a 1-year low of $4.79 and a 1-year high of $8.19.

Analyst Ratings Changes

MOMO has been the subject of a number of research analyst reports. StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Citigroup upped their target price on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Bank of America lowered shares of Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.25.

Hello Group Profile

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.