AQR Capital Management LLC reduced its position in Hello Group Inc. (NASDAQ:MOMO – Free Report) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 237,761 shares of the information services provider’s stock after selling 7,225 shares during the period. AQR Capital Management LLC owned about 0.16% of Hello Group worth $1,455,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Platinum Investment Management Ltd. boosted its stake in Hello Group by 110.0% in the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock worth $56,000 after buying an additional 4,700 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of Hello Group by 31.8% in the 4th quarter. Virtu Financial LLC now owns 31,390 shares of the information services provider’s stock valued at $218,000 after purchasing an additional 7,581 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake 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 purchasing an additional 11,013 shares in the last quarter. Kathmere Capital Management LLC acquired a new position in shares of Hello Group in the 2nd quarter valued at about $74,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Hello Group by 24.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 70,229 shares of the information services provider’s stock valued at $436,000 after purchasing an additional 13,598 shares in the last quarter. 50.96% of the stock is owned by institutional investors and hedge funds.
Hello Group Stock Performance
Shares of NASDAQ:MOMO opened at $7.27 on Friday. The company has a market cap of $1.05 billion, a P/E ratio of 6.61, a PEG ratio of 1.99 and a beta of 0.54. 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 one year low of $4.79 and a one year high of $8.19. The business’s 50-day simple moving average is $6.83 and its 200 day simple moving average is $6.31.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on MOMO. Benchmark reduced their price objective on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Jefferies Financial Group lifted their price objective on Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. One equities research analyst has 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 stock presently has a consensus rating of “Hold” and an average target price of $7.93.
View Our Latest Stock Analysis on MOMO
Hello Group Company 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.
Recommended Stories
- Five stocks we like better than Hello Group
- What Are Dividends? Buy the Best Dividend Stocks
- MercadoLibre Targets Double-Digit Upside with Argentina Boom
- Dividend Payout Ratio Calculator
- Domino’s Pizza Stock Delivers: A Hot Buy for Growth Investors
- 3 Monster Growth Stocks to Buy Now
- 3 Small-Cap Stocks Ready to Deliver Significant Growth
Receive News & Ratings for Hello Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hello Group and related companies with MarketBeat.com's FREE daily email newsletter.