Headlands Technologies LLC Sells 4,507 Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)

Headlands Technologies LLC trimmed its holdings in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 22.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 16,019 shares of the information services provider’s stock after selling 4,507 shares during the quarter. Headlands Technologies LLC’s holdings in Hello Group were worth $101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LSV Asset Management lifted its holdings in shares of Hello Group by 25.4% in the 1st quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider’s stock worth $17,365,000 after purchasing an additional 557,777 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Hello Group during the 4th quarter valued at $4,535,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Hello Group during the 1st quarter valued at $2,638,000. Northern Trust Corp increased its position in shares of Hello Group by 53.3% during the 4th quarter. Northern Trust Corp now owns 390,686 shares of the information services provider’s stock valued at $3,012,000 after purchasing an additional 135,879 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Hello Group by 10.7% in the 1st quarter. Allianz Asset Management GmbH now owns 292,362 shares of the information services provider’s stock worth $1,845,000 after acquiring an additional 28,278 shares during the last quarter. 50.96% of the stock is currently owned by institutional investors.

Hello Group Stock Down 0.6%

Shares of NASDAQ MOMO opened at $8.00 on Tuesday. Hello Group Inc. Sponsored ADR has a 52 week low of $5.12 and a 52 week high of $9.22. The business has a 50-day simple moving average of $8.33 and a two-hundred day simple moving average of $7.18. The company has a market cap of $963.92 million, a P/E ratio of 6.15 and a beta of 0.41.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Hello Group from a “hold” rating to a “buy” rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.00.

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.