Assenagon Asset Management S.A. Takes Position in Hello Group Inc. (NASDAQ:MOMO)

Assenagon Asset Management S.A. bought a new position in shares of Hello Group Inc. (NASDAQ:MOMO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,117,489 shares of the information services provider’s stock, valued at approximately $8,616,000. Assenagon Asset Management S.A. owned approximately 0.77% of Hello Group at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in Hello Group by 472.1% in the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 3,196 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Hello Group in the second quarter valued at about $68,000. Kathmere Capital Management LLC purchased a new position in shares of Hello Group during the 2nd quarter worth approximately $74,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Hello Group in the 2nd quarter valued at approximately $87,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Hello Group in the 3rd quarter valued at approximately $125,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Hello Group Price Performance

Shares of MOMO stock opened at $7.23 on Monday. Hello Group Inc. has a 1-year low of $4.79 and a 1-year high of $8.19. The firm’s 50-day simple moving average is $7.04 and its 200-day simple moving average is $6.89. The firm has a market cap of $1.05 billion, a P/E ratio of 7.45, a PEG ratio of 1.72 and a beta of 0.48.

Wall Street Analysts Forecast Growth

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

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.