Connor Clark & Lunn Investment Management Ltd. Raises Position in Hello Group Inc. Sponsored ADR $MOMO

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 201.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 571,569 shares of the information services provider’s stock after purchasing an additional 381,993 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.47% of Hello Group worth $4,824,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MOMO. Summit Securities Group LLC acquired a new stake in Hello Group in the 1st quarter worth about $56,000. Nomura Holdings Inc. purchased a new position in shares of Hello Group during the 1st quarter worth about $63,000. Aigen Investment Management LP acquired a new stake in shares of Hello Group in the first quarter worth approximately $85,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Hello Group in the second quarter valued at approximately $85,000. Finally, Wellington Management Group LLP acquired a new position in Hello Group during the first quarter worth approximately $120,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Trading Up 0.7%

Shares of MOMO stock opened at $6.92 on Friday. The company has a market cap of $825.28 million, a PE ratio of 7.78 and a beta of 0.25. The company’s fifty day simple moving average is $7.21 and its 200-day simple moving average is $7.51. Hello Group Inc. Sponsored ADR has a 52 week low of $5.12 and a 52 week high of $9.22.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MOMO shares. Wall Street Zen lowered shares of Hello Group from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Zacks Research cut Hello Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hello Group in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

About Hello Group

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.