Renaissance Technologies LLC Sells 340,200 Shares of Hello Group Inc. Sponsored ADR $MOMO

Renaissance Technologies LLC decreased its holdings in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 4.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,482,810 shares of the information services provider’s stock after selling 340,200 shares during the period. Renaissance Technologies LLC owned about 0.07% of Hello Group worth $43,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in shares of Hello Group by 7.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock worth $51,284,000 after purchasing an additional 546,048 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Hello Group by 4.1% during the second quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider’s stock worth $2,362,000 after purchasing an additional 10,944 shares during the period. JPMorgan Chase & Co. raised its position in shares of Hello Group by 111.0% in the second quarter. JPMorgan Chase & Co. now owns 315,918 shares of the information services provider’s stock valued at $2,666,000 after buying an additional 166,227 shares in the last quarter. Legal & General Group Plc raised its position in shares of Hello Group by 31.7% in the second quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider’s stock valued at $336,000 after buying an additional 9,597 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Hello Group by 231.1% in the second quarter. Hsbc Holdings PLC now owns 38,864 shares of the information services provider’s stock valued at $329,000 after buying an additional 27,125 shares during the period. Institutional investors own 50.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MOMO. Weiss Ratings downgraded Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Wall Street Zen cut Hello Group from a “buy” rating to a “hold” rating in a report on Sunday. UBS Group set a $10.00 target price on Hello Group in a research report on Thursday, June 4th. Finally, Benchmark reissued a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.05.

Hello Group Stock Performance

Shares of MOMO stock opened at $5.88 on Tuesday. Hello Group Inc. Sponsored ADR has a fifty-two week low of $5.32 and a fifty-two week high of $8.59. The stock’s fifty day moving average price is $5.83 and its two-hundred day moving average price is $6.17. The company has a market cap of $632.51 million, a PE ratio of 9.19 and a beta of 0.45.

About Hello Group

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.