Hello Group Inc. (NASDAQ:MOMO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in Hello Group Inc. (NASDAQ:MOMO) by 83.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,253 shares of the information services provider’s stock after selling 720,876 shares during the period. Wellington Management Group LLP owned about 0.10% of Hello Group worth $1,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Polunin Capital Partners Ltd acquired a new position in shares of Hello Group during the 2nd quarter worth about $4,566,000. Patriot Financial Group Insurance Agency LLC increased its position in shares of 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 purchasing an additional 11,013 shares in the last quarter. Headlands Technologies LLC raised its stake in Hello Group by 856.7% in the 2nd quarter. Headlands Technologies LLC now owns 45,049 shares of the information services provider’s stock valued at $276,000 after purchasing an additional 40,340 shares during the last quarter. American Century Companies Inc. lifted its holdings in Hello Group by 22.6% in the 2nd quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock valued at $4,417,000 after purchasing an additional 133,113 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Hello Group by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock worth $22,736,000 after purchasing an additional 633,746 shares during the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Stock Down 0.8 %

Shares of Hello Group stock opened at $7.30 on Friday. The firm has a market cap of $1.06 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 2.35 and a beta of 0.51. Hello Group Inc. has a 52 week low of $4.79 and a 52 week high of $8.19. The business’s fifty day simple moving average is $6.96 and its 200-day simple moving average is $6.68.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Benchmark lowered their price target on shares of 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. Citigroup lifted their price objective on Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Bank of America cut Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Finally, StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Hello Group has an average rating of “Hold” and an average price target of $8.25.

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.