E Fund Management Hong Kong Co. Ltd. Acquires New Position in Hello Group Inc. (NASDAQ:MOMO)

E Fund Management Hong Kong Co. Ltd. acquired a new stake in Hello Group Inc. (NASDAQ:MOMO) during the third quarter, Holdings Channel reports. The firm acquired 42,360 shares of the information services provider’s stock, valued at approximately $322,000. Hello Group comprises 0.2% of E Fund Management Hong Kong Co. Ltd.’s holdings, making the stock its 20th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Hello Group by 472.1% in the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 3,196 shares during the period. Platinum Investment Management Ltd. raised its stake in Hello Group by 110.0% in the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock valued at $56,000 after acquiring an additional 4,700 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in Hello Group by 19.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 67,812 shares of the information services provider’s stock valued at $415,000 after acquiring an additional 11,013 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Hello Group in the 2nd quarter valued at about $68,000. Finally, Kathmere Capital Management LLC bought a new stake in Hello Group in the 2nd quarter valued at about $74,000. 50.96% of the stock is currently owned by institutional investors.

Hello Group Trading Down 0.7 %

Shares of MOMO opened at $7.07 on Thursday. Hello Group Inc. has a twelve month low of $4.79 and a twelve month high of $8.19. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.02 billion, a PE ratio of 6.43, a P/E/G ratio of 2.16 and a beta of 0.54. The business’s 50-day moving average price is $6.87 and its 200-day moving average price is $6.39.

Hello Group (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $0.25 by $2.13. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Hello Group’s revenue was down 14.2% on a year-over-year basis. On average, equities analysts forecast that Hello Group Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MOMO. Benchmark decreased their price target on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Jefferies Financial Group upped their price target on Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Hello Group presently has an average rating of “Hold” and a consensus price target of $7.93.

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.