Jupiter Asset Management Ltd. Has $291,000 Position in Hello Group Inc. (NASDAQ:MOMO)

Jupiter Asset Management Ltd. cut its position in Hello Group Inc. (NASDAQ:MOMO) by 97.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,511 shares of the information services provider’s stock after selling 1,569,797 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Hello Group were worth $291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. raised its position in shares of 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 valued at $4,417,000 after buying an additional 133,113 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Hello Group by 856.7% in the 2nd quarter. Headlands Technologies LLC now owns 45,049 shares of the information services provider’s stock valued at $276,000 after buying an additional 40,340 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Hello Group by 19.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 67,812 shares of the information services provider’s stock valued at $415,000 after buying an additional 11,013 shares in the last quarter. Polunin Capital Partners Ltd bought a new stake in shares of Hello Group during the 2nd quarter valued at approximately $4,566,000. Finally, Kathmere Capital Management LLC bought a new stake in shares of Hello Group during the 2nd quarter valued at approximately $74,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Trading Up 1.3 %

NASDAQ:MOMO opened at $6.37 on Friday. The firm’s fifty day moving average is $6.63 and its 200-day moving average is $6.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.55 and a current ratio of 2.55. Hello Group Inc. has a 52 week low of $4.79 and a 52 week high of $7.74. The firm has a market cap of $923.01 million, a P/E ratio of 5.79, a P/E/G ratio of 1.93 and a beta of 0.53.

Hello Group (NASDAQ:MOMO) last posted its quarterly earnings data on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $2.13. Hello Group had a net margin of 12.40% and a return on equity of 12.09%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the firm posted $0.39 EPS. The company’s quarterly revenue was down 14.2% on a year-over-year basis. Equities analysts expect that Hello Group Inc. will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Citigroup decreased their price target on shares of Hello Group from $6.40 to $5.70 and set a “neutral” rating on the stock in a report on Wednesday, May 29th. Jefferies Financial Group boosted their target price on shares of Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered shares of Hello Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $13.00 to $6.00 in a report on Monday, June 3rd. Finally, Benchmark reduced their target price on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.93.

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.