Public Employees Retirement System of Ohio Cuts Position in Hello Group Inc. Sponsored ADR $MOMO

Public Employees Retirement System of Ohio decreased its holdings in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 44.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 195,141 shares of the information services provider’s stock after selling 154,223 shares during the quarter. Public Employees Retirement System of Ohio owned 0.18% of Hello Group worth $1,124,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Cetera Investment Advisers increased its position in shares of Hello Group by 3.2% in the first quarter. Cetera Investment Advisers now owns 67,726 shares of the information services provider’s stock valued at $390,000 after buying an additional 2,096 shares in the last quarter. ABN Amro Investment Solutions increased its holdings in Hello Group by 45.6% in the 1st quarter. ABN Amro Investment Solutions now owns 38,300 shares of the information services provider’s stock worth $221,000 after acquiring an additional 12,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Hello Group by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,408,461 shares of the information services provider’s stock worth $13,868,000 after acquiring an additional 37,306 shares in the last quarter. QRG Capital Management Inc. raised its position in Hello Group by 12.1% during the first quarter. QRG Capital Management Inc. now owns 21,964 shares of the information services provider’s stock worth $127,000 after acquiring an additional 2,372 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in Hello Group during the first quarter valued at $245,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MOMO shares. Benchmark reissued a “buy” rating on shares of Hello Group in a research note on Thursday, June 4th. UBS Group set a $10.00 price target on shares of Hello Group in a research note on Thursday, June 4th. Wall Street Zen downgraded Hello Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Finally, Weiss Ratings lowered Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hello Group has a consensus rating of “Hold” and an average target price of $9.05.

Hello Group Price Performance

Shares of Hello Group stock opened at $5.95 on Tuesday. The stock’s 50 day simple moving average is $5.83 and its 200-day simple moving average is $6.14. The stock has a market cap of $640.01 million, a P/E ratio of 9.30 and a beta of 0.45. Hello Group Inc. Sponsored ADR has a 1-year low of $5.32 and a 1-year high of $8.59.

Hello Group Company Profile

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.