Assenagon Asset Management S.A. Buys Shares of 1,117,489 Hello Group Inc. (NASDAQ:MOMO)

Assenagon Asset Management S.A. acquired a new stake in shares of Hello Group Inc. (NASDAQ:MOMO) during the fourth quarter, Holdings Channel reports. The firm acquired 1,117,489 shares of the information services provider’s stock, valued at approximately $8,616,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Hello Group by 472.1% during the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 3,196 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Hello Group in the 2nd quarter valued at $68,000. Kathmere Capital Management LLC purchased a new position in Hello Group in the 2nd quarter worth about $74,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Hello Group in the second quarter worth approximately $87,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Hello Group during the third quarter valued at approximately $125,000. Institutional investors own 50.96% of the company’s stock.

Hello Group Price Performance

Shares of NASDAQ:MOMO opened at $7.23 on Monday. The stock has a market capitalization of $1.05 billion, a P/E ratio of 7.45, a P/E/G ratio of 1.72 and a beta of 0.48. The business has a 50-day moving average of $7.04 and a two-hundred day moving average of $6.89. Hello Group Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $8.19.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MOMO shares. Bank of America downgraded Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Citigroup lifted their target price on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, StockNews.com upgraded shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.