4,043,817 Shares in Hello Group Inc. (NASDAQ:MOMO) Purchased by First Beijing Investment Ltd

First Beijing Investment Ltd acquired a new position in Hello Group Inc. (NASDAQ:MOMO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,043,817 shares of the information services provider’s stock, valued at approximately $30,773,000. Hello Group accounts for 2.3% of First Beijing Investment Ltd’s holdings, making the stock its 9th largest holding.

Several other large investors have also bought and sold shares of MOMO. BRIGHT VALLEY CAPITAL Ltd bought a new position in shares of Hello Group in the 2nd quarter worth approximately $22,553,000. Jupiter Asset Management Ltd. raised its holdings in Hello Group by 994.2% in the first quarter. Jupiter Asset Management Ltd. now owns 1,617,308 shares of the information services provider’s stock worth $10,043,000 after purchasing an additional 1,469,500 shares in the last quarter. Sei Investments Co. lifted its position in Hello Group by 26.3% during the first quarter. Sei Investments Co. now owns 448,013 shares of the information services provider’s stock valued at $2,782,000 after buying an additional 93,238 shares during the period. Dimensional Fund Advisors LP lifted its position in Hello Group by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after buying an additional 633,746 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Hello Group by 33.5% during the 1st quarter. LSV Asset Management now owns 2,277,629 shares of the information services provider’s stock valued at $14,144,000 after buying an additional 571,840 shares in the last quarter. 50.96% of the stock is owned by institutional investors.

Hello Group Stock Down 3.8 %

Shares of NASDAQ:MOMO traded down $0.28 during trading on Wednesday, reaching $7.01. 160,374 shares of the stock traded hands, compared to its average volume of 1,722,369. The stock has a market cap of $1.02 billion, a P/E ratio of 7.29, a price-to-earnings-growth ratio of 2.17 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a 50-day moving average of $6.91 and a two-hundred day moving average of $6.45. Hello Group Inc. has a 52-week low of $4.79 and a 52-week high of $8.19.

Hello Group (NASDAQ:MOMO) last issued its earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, beating 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 business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the business posted $0.39 EPS. The company’s revenue was down 14.2% compared to the same quarter last year. As a group, sell-side analysts expect that Hello Group Inc. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MOMO. Benchmark lowered their price target on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Jefferies Financial Group lifted 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. Finally, StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Hello Group currently has an average 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.