JPMorgan Chase & Co. Sells 7,794 Shares of Hello Group Inc. (NASDAQ:MOMO)

JPMorgan Chase & Co. cut its holdings in shares of Hello Group Inc. (NASDAQ:MOMO) by 10.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,767 shares of the information services provider’s stock after selling 7,794 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hello Group were worth $516,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MOMO. Tidal Investments LLC bought a new stake in Hello Group in the 3rd quarter valued at $138,000. Public Employees Retirement System of Ohio acquired a new position in shares of Hello Group in the 3rd quarter worth approximately $1,013,000. XTX Topco Ltd lifted its position in shares of Hello Group by 95.1% during the 3rd quarter. XTX Topco Ltd now owns 52,720 shares of the information services provider’s stock worth $401,000 after buying an additional 25,700 shares during the period. Quadrature Capital Ltd boosted its stake in Hello Group by 40.2% in the 3rd quarter. Quadrature Capital Ltd now owns 69,492 shares of the information services provider’s stock valued at $528,000 after buying an additional 19,909 shares in the last quarter. Finally, Polymer Capital Management HK LTD bought a new stake in Hello Group in the third quarter valued at $894,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Stock Up 1.2 %

MOMO stock opened at $7.43 on Wednesday. Hello Group Inc. has a twelve month low of $4.79 and a twelve month high of $8.19. The business’s fifty day moving average is $7.11 and its 200-day moving average is $6.93. The company has a market cap of $1.08 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 1.85 and a beta of 0.48.

Analyst Upgrades and Downgrades

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

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.