Hello Group Inc. Sponsored ADR $MOMO Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 201.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 571,569 shares of the information services provider’s stock after acquiring an additional 381,993 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hello Group were worth $4,824,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in shares of Hello Group during the first quarter worth $56,000. Nomura Holdings Inc. acquired a new stake in shares of Hello Group during the first quarter valued at about $63,000. Aigen Investment Management LP purchased a new stake in shares of Hello Group during the first quarter worth about $85,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Hello Group during the 2nd quarter worth approximately $85,000. Finally, Wellington Management Group LLP acquired a new position in shares of Hello Group in the 1st quarter valued at approximately $120,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Trading Up 0.7%

MOMO stock opened at $6.92 on Friday. The stock’s 50 day simple moving average is $7.21 and its 200 day simple moving average is $7.51. Hello Group Inc. Sponsored ADR has a 12-month low of $5.12 and a 12-month high of $9.22. The firm has a market cap of $825.28 million, a P/E ratio of 7.78 and a beta of 0.25.

Analyst Ratings Changes

MOMO has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Hello Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 16th. Wall Street Zen lowered shares of Hello Group from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hello Group in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell 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 $10.00.

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.