AIA Group Ltd Makes New Investment in Hello Group Inc. (NASDAQ:MOMO)

AIA Group Ltd purchased a new position in Hello Group Inc. (NASDAQ:MOMOGet Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 42,668 shares of the information services provider’s stock, valued at approximately $247,000.

A number of other institutional investors have also bought and sold shares of MOMO. SG Americas Securities LLC grew its position in shares of Hello Group by 133.4% during the fourth quarter. SG Americas Securities LLC now owns 60,055 shares of the information services provider’s stock valued at $539,000 after purchasing an additional 34,328 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Hello Group by 135.8% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 91,567 shares of the information services provider’s stock valued at $510,000 after purchasing an additional 52,742 shares in the last quarter. Greenleaf Trust purchased a new position in shares of Hello Group during the first quarter valued at about $211,000. Signaturefd LLC grew its position in shares of Hello Group by 86.6% during the first quarter. Signaturefd LLC now owns 14,268 shares of the information services provider’s stock valued at $82,000 after purchasing an additional 6,623 shares in the last quarter. Finally, abrdn plc grew its position in shares of Hello Group by 209.8% during the first quarter. abrdn plc now owns 48,270 shares of the information services provider’s stock valued at $279,000 after purchasing an additional 32,691 shares in the last quarter. Hedge funds and other institutional investors own 60.44% of the company’s stock.

Hello Group Stock Down 4.1 %

Shares of NASDAQ MOMO opened at $4.49 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.91 and a quick ratio of 2.91. The company has a market cap of $710.20 million, a P/E ratio of -1.79 and a beta of 1.14. Hello Group Inc. has a 1 year low of $4.14 and a 1 year high of $13.99. The firm has a 50-day simple moving average of $5.09 and a two-hundred day simple moving average of $6.40.

Hello Group (NASDAQ:MOMOGet Rating) last announced its quarterly earnings data on Tuesday, June 7th. The information services provider reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.34. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.13 billion. Hello Group had a negative net margin of 21.82% and a negative return on equity of 24.64%. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. Research analysts anticipate that Hello Group Inc. will post 0.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MOMO. Benchmark cut their price objective on Hello Group from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. Citigroup dropped their price target on Hello Group from $8.10 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, June 8th. StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. China Renaissance upgraded Hello Group from a “hold” rating to a “buy” rating in a research report on Wednesday, June 15th. Finally, TheStreet lowered Hello Group from a “c” rating to a “d” rating in a research report on Monday, June 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Hello Group currently has an average rating of “Hold” and a consensus target price of $11.75.

Hello Group Profile

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Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates Momo platform that includes its Momo mobile application, as well as various related properties, features, functionalities, tools, and services. The company's Momo mobile application connects people and facilitates interactions based on location and interests; and various recreational activities, including live talent shows, short videos, and social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke, and user participated reality shows.

See Also

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Institutional Ownership by Quarter for Hello Group (NASDAQ:MOMO)

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