E Fund Management Hong Kong Co. Ltd. Invests $322,000 in Hello Group Inc. (NASDAQ:MOMO)

E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Hello Group Inc. (NASDAQ:MOMO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 42,360 shares of the information services provider’s stock, valued at approximately $322,000. Hello Group accounts for about 0.2% of E Fund Management Hong Kong Co. Ltd.’s holdings, making the stock its 20th biggest position.

Several other large investors also recently modified their holdings of MOMO. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in Hello Group in the 2nd quarter valued at $22,553,000. Jupiter Asset Management Ltd. grew its position in Hello Group by 994.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,617,308 shares of the information services provider’s stock valued at $10,043,000 after purchasing an additional 1,469,500 shares during the period. Sei Investments Co. grew its position in Hello Group by 26.3% in the 1st quarter. Sei Investments Co. now owns 448,013 shares of the information services provider’s stock valued at $2,782,000 after purchasing an additional 93,238 shares during the period. Dimensional Fund Advisors LP grew its position in Hello Group by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after purchasing an additional 633,746 shares during the period. Finally, LSV Asset Management grew its position in Hello Group by 33.5% in the 1st quarter. LSV Asset Management now owns 2,277,629 shares of the information services provider’s stock valued at $14,144,000 after purchasing an additional 571,840 shares during the period. Institutional investors and hedge funds own 50.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MOMO. Benchmark cut their price objective on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group lifted their price objective on shares of Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.93.

Hello Group Trading Down 0.7 %

NASDAQ MOMO opened at $7.07 on Thursday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 2.16 and a beta of 0.54. Hello Group Inc. has a one year low of $4.79 and a one year high of $8.19. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.55 and a quick ratio of 2.55. The business’s fifty day moving average is $6.87 and its 200-day moving average is $6.39.

Hello Group (NASDAQ:MOMO) last released its earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $2.13. The company had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts predict that Hello Group Inc. will post 0.73 EPS for the current year.

About Hello Group

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.