Jupiter Asset Management Ltd. Has $291,000 Stock Holdings in Hello Group Inc. (NASDAQ:MOMO)

Jupiter Asset Management Ltd. decreased its holdings in shares of Hello Group Inc. (NASDAQ:MOMO) by 97.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 47,511 shares of the information services provider’s stock after selling 1,569,797 shares during the period. Jupiter Asset Management Ltd.’s holdings in Hello Group were worth $291,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Quadrant Capital Group LLC raised its holdings in Hello Group by 9.0% during the fourth quarter. Quadrant Capital Group LLC now owns 32,840 shares of the information services provider’s stock worth $228,000 after buying an additional 2,712 shares during the last quarter. Platinum Investment Management Ltd. raised its holdings in Hello Group by 110.0% during the first quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock worth $56,000 after buying an additional 4,700 shares during the last quarter. Virtu Financial LLC raised its holdings in Hello Group by 31.8% during the fourth quarter. Virtu Financial LLC now owns 31,390 shares of the information services provider’s stock worth $218,000 after buying an additional 7,581 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Hello Group by 19.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 67,812 shares of the information services provider’s stock worth $415,000 after buying an additional 11,013 shares during the last quarter. Finally, Kathmere Capital Management LLC acquired a new position in Hello Group during the second quarter worth $74,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Price Performance

MOMO opened at $6.37 on Friday. The firm has a market cap of $923.01 million, a P/E ratio of 5.79, a PEG ratio of 1.93 and a beta of 0.53. The firm has a 50-day moving average of $6.63 and a 200 day moving average of $6.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.55 and a current ratio of 2.55. Hello Group Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $7.74.

Hello Group (NASDAQ:MOMO) last posted its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $0.25 by $2.13. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.67 billion. Hello Group had a net margin of 12.40% and a return on equity of 12.09%. The firm’s revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, research analysts expect that Hello Group Inc. will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MOMO. StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Benchmark lowered their target price on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Jefferies Financial Group increased their target price on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Citigroup lowered their target price on shares of Hello Group from $6.40 to $5.70 and set a “neutral” rating for the company in a report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. downgraded shares of Hello Group from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $6.00 in a report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Hello Group currently has a consensus rating of “Hold” and a consensus target price of $7.93.

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.