QRG Capital Management Inc. Sells 7,975 Shares of Hello Group Inc. (NASDAQ:MOMO)

QRG Capital Management Inc. lowered its holdings in shares of Hello Group Inc. (NASDAQ:MOMO) by 28.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,171 shares of the information services provider’s stock after selling 7,975 shares during the quarter. QRG Capital Management Inc.’s holdings in Hello Group were worth $154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of MOMO. Blue Trust Inc. raised its holdings in Hello Group by 472.1% during the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after buying an additional 3,196 shares in the last quarter. Platinum Investment Management Ltd. increased its holdings in shares of Hello Group by 110.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock valued at $56,000 after acquiring an additional 4,700 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Hello Group in the 2nd quarter valued at approximately $68,000. Kathmere Capital Management LLC acquired a new stake in Hello Group in the 2nd quarter worth approximately $74,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in Hello Group during the second quarter worth approximately $87,000. 50.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MOMO. Bank of America lowered shares of Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Benchmark cut their price objective on 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 raised their target price on 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 report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.93.

Hello Group Trading Down 0.3 %

Shares of MOMO opened at $6.83 on Wednesday. The stock’s 50-day moving average price is $6.94 and its 200 day moving average price is $6.49. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $989.66 million, a price-to-earnings ratio of 6.83, a P/E/G ratio of 2.12 and a beta of 0.54. Hello Group Inc. has a 12-month low of $4.79 and a 12-month high of $8.19.

Hello Group (NASDAQ:MOMO) last released its quarterly earnings data on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $2.13. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. Hello Group’s quarterly revenue was down 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, research analysts predict that Hello Group Inc. will post 0.73 earnings per share for the current year.

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.