E Fund Management Hong Kong Co. Ltd. Sells 17,682 Shares of Hello Group Inc. (NASDAQ:MOMO)

E Fund Management Hong Kong Co. Ltd. trimmed its position in Hello Group Inc. (NASDAQ:MOMO) by 41.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,678 shares of the information services provider’s stock after selling 17,682 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in Hello Group were worth $190,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Hello Group by 86.3% during the 4th quarter. SG Americas Securities LLC now owns 30,676 shares of the information services provider’s stock valued at $237,000 after purchasing an additional 14,211 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in shares of Hello Group by 30.1% in the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock worth $113,000 after buying an additional 3,407 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Hello Group during the fourth quarter valued at about $8,616,000. Harbour Capital Advisors LLC increased its holdings in Hello Group by 86.9% during the fourth quarter. Harbour Capital Advisors LLC now owns 90,085 shares of the information services provider’s stock worth $647,000 after buying an additional 41,875 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in Hello Group in the third quarter worth about $138,000. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MOMO shares. Bank of America downgraded shares of Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Citigroup boosted their target price on Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.25.

Hello Group Trading Up 3.1 %

Shares of MOMO stock opened at $7.33 on Monday. The firm’s 50 day moving average is $7.09 and its 200 day moving average is $6.92. The stock has a market capitalization of $1.06 billion, a P/E ratio of 7.56, a PEG ratio of 1.85 and a beta of 0.48. Hello Group Inc. has a 12 month low of $4.79 and a 12 month high of $8.19.

Hello Group Profile

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.