Assenagon Asset Management S.A. Has $7.82 Million Holdings in Hello Group Inc. Sponsored ADR $MOMO

Assenagon Asset Management S.A. grew its holdings in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 23.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,194,428 shares of the information services provider’s stock after purchasing an additional 226,637 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Hello Group were worth $7,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Hello Group during the 2nd quarter worth about $41,000. Loomis Sayles & Co. L P increased its stake in Hello Group by 322.1% during the second quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 4,113 shares during the period. Quarry LP acquired a new position in Hello Group in the 3rd quarter valued at approximately $65,000. Boothbay Fund Management LLC bought a new stake in shares of Hello Group in the 3rd quarter worth approximately $88,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Hello Group in the 2nd quarter worth approximately $126,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MOMO shares. Jefferies Financial Group set a $8.10 price objective on Hello Group in a research report on Wednesday, December 10th. Zacks Research raised Hello Group from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hello Group in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.10.

Hello Group Price Performance

MOMO stock opened at $5.74 on Friday. The business has a fifty day moving average price of $6.43 and a 200 day moving average price of $6.78. 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 $684.55 million, a price-to-earnings ratio of 8.57 and a beta of 0.35.

Hello Group Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, April 10th will be paid a $0.28 dividend. The ex-dividend date is Friday, April 10th. This represents a dividend yield of 486.0%.

About Hello Group

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.