E Fund Management Hong Kong Co. Ltd. Has $190,000 Stock Position in Hello Group Inc. (NASDAQ:MOMO)

E Fund Management Hong Kong Co. Ltd. cut its holdings in Hello Group Inc. (NASDAQ:MOMO) by 41.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,678 shares of the information services provider’s stock after selling 17,682 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in Hello Group were worth $190,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MOMO. Dimensional Fund Advisors LP increased its stake in shares of 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 acquiring an additional 633,746 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Hello Group in the second quarter worth $87,000. XTX Topco Ltd bought a new stake in Hello Group in the second quarter valued at $165,000. Kathmere Capital Management LLC acquired a new position in shares of Hello Group during the second quarter valued at about $74,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Hello Group during the 2nd quarter worth about $68,000. 50.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Hello Group Stock Performance

MOMO stock opened at $7.33 on Monday. The business has a 50-day simple moving average of $7.09 and a two-hundred day simple moving average of $6.92. The company has a market capitalization of $1.06 billion, a P/E ratio of 7.56, a price-to-earnings-growth ratio of 1.85 and a beta of 0.48. Hello Group Inc. has a 52-week low of $4.79 and a 52-week high of $8.19.

Hello Group Company 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.