OMERS ADMINISTRATION Corp Makes New $389,000 Investment in Hello Group Inc. Sponsored ADR $MOMO

OMERS ADMINISTRATION Corp bought a new position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 61,600 shares of the information services provider’s stock, valued at approximately $389,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in Hello Group by 3.6% during the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider’s stock worth $500,000 after purchasing an additional 2,280 shares in the last quarter. US Bancorp DE grew its holdings in shares of Hello Group by 3.9% in the 1st quarter. US Bancorp DE now owns 78,397 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 2,978 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of Hello Group by 14.2% in the 1st quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider’s stock valued at $157,000 after acquiring an additional 3,098 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Hello Group by 34.0% in the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock valued at $122,000 after acquiring an additional 4,009 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Hello Group in the 1st quarter valued at about $56,000. Institutional investors own 50.96% of the company’s stock.

Hello Group Price Performance

Shares of NASDAQ MOMO opened at $8.27 on Thursday. Hello Group Inc. Sponsored ADR has a fifty-two week low of $5.12 and a fifty-two week high of $9.22. The stock has a market capitalization of $996.45 million, a price-to-earnings ratio of 6.36 and a beta of 0.38. The business has a 50-day moving average of $8.39 and a 200-day moving average of $7.28.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Hello Group from a “hold” rating to a “buy” rating in a report on Friday, June 6th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Hello Group has a consensus rating of “Hold” and an average target price of $10.00.

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.