New York State Common Retirement Fund Trims Holdings in Hello Group Inc. Sponsored ADR $MOMO

New York State Common Retirement Fund lowered its stake in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 27.3% in the third quarter, HoldingsChannel.com reports. The firm owned 226,710 shares of the information services provider’s stock after selling 85,100 shares during the period. New York State Common Retirement Fund’s holdings in Hello Group were worth $1,682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in Hello Group during the 3rd quarter valued at about $2,069,000. Jupiter Asset Management Ltd. lifted its position in shares of Hello Group by 98.1% during the second quarter. Jupiter Asset Management Ltd. now owns 828,200 shares of the information services provider’s stock worth $6,990,000 after purchasing an additional 410,200 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Hello Group during the second quarter worth about $4,017,000. Assenagon Asset Management S.A. boosted its stake in shares of Hello Group by 406.6% in the third quarter. Assenagon Asset Management S.A. now owns 967,791 shares of the information services provider’s stock valued at $7,181,000 after purchasing an additional 776,770 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Hello Group by 16.0% in the second quarter. US Bancorp DE now owns 90,945 shares of the information services provider’s stock valued at $768,000 after purchasing an additional 12,548 shares in the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Hello Group Price Performance

Shares of NASDAQ MOMO opened at $6.56 on Monday. Hello Group Inc. Sponsored ADR has a 1 year low of $5.12 and a 1 year high of $9.22. The company has a market capitalization of $782.35 million, a price-to-earnings ratio of 7.90 and a beta of 0.34. The business has a 50-day moving average of $6.75 and a two-hundred day moving average of $7.25.

Hello Group (NASDAQ:MOMO) last posted its earnings results on Wednesday, December 10th. The information services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $372.16 million during the quarter, compared to analysts’ expectations of $362.80 million. Hello Group had a return on equity of 10.07% and a net margin of 5.96%.The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.70 earnings per share. As a group, equities research analysts expect that Hello Group Inc. Sponsored ADR will post 0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

MOMO has been the topic of a number of research reports. Zacks Research upgraded shares of Hello Group from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hello Group in a research report on Monday, December 22nd. Finally, Jefferies Financial Group set a $8.10 target price on Hello Group in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.55.

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.