Public Employees Retirement System of Ohio Invests $1.09 Million in Hello Group Inc. Sponsored ADR $MOMO

Public Employees Retirement System of Ohio purchased a new position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 187,341 shares of the information services provider’s stock, valued at approximately $1,087,000. Public Employees Retirement System of Ohio owned approximately 0.17% of Hello Group as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ramsey Quantitative Systems acquired a new position in Hello Group during the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Hello Group by 249.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock valued at $26,000 after buying an additional 3,170 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Hello Group in the second quarter valued at approximately $41,000. Pinnacle Holdings LLC acquired a new position in Hello Group during the second quarter worth $60,000. Finally, Quarry LP acquired a new position in Hello Group during the third quarter worth $65,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Stock Performance

Shares of MOMO stock opened at $5.26 on Wednesday. The stock has a fifty day moving average price of $5.82 and a 200 day moving average price of $5.95. The stock has a market cap of $565.82 million, a PE ratio of 5.37 and a beta of 0.45. Hello Group Inc. Sponsored ADR has a 1 year low of $5.05 and a 1 year high of $8.01.

Hello Group (NASDAQ:MOMO) last posted its earnings results on Thursday, September 3rd. The information services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. Hello Group had a return on equity of 10.43% and a net margin of 11.02%.The company had revenue of $365.91 million for the quarter, compared to analyst estimates of $363.62 million. During the same quarter in the prior year, the company earned ($0.58) earnings per share. Hello Group’s revenue was down 5.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

MOMO has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Hello Group in a report on Monday, August 3rd. Wall Street Zen downgraded shares of Hello Group from a “buy” rating to a “hold” rating in a report on Sunday, July 26th. UBS Group set a $10.00 price objective on shares of Hello Group in a research note on Thursday, June 4th. Finally, Benchmark reissued a “buy” rating on shares of Hello Group in a report on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.05.

Hello Group Company Profile

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.