Axa S.A. Cuts Stock Holdings in Hello Group Inc. (NASDAQ:MOMO)

Axa S.A. lowered its position in shares of Hello Group Inc. (NASDAQ:MOMO) by 42.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,213 shares of the information services provider’s stock after selling 28,106 shares during the period. Axa S.A.’s holdings in Hello Group were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MOMO. Platinum Investment Management Ltd. increased its holdings in shares of Hello Group by 110.0% in the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock worth $56,000 after purchasing an additional 4,700 shares in the last quarter. Kathmere Capital Management LLC bought a new stake in Hello Group in the 2nd quarter worth about $74,000. Vanguard Personalized Indexing Management LLC purchased a new position in Hello Group in the 2nd quarter worth about $87,000. Capstone Investment Advisors LLC bought a new position in Hello Group during the 1st quarter valued at about $154,000. Finally, XTX Topco Ltd purchased a new stake in shares of Hello Group during the 2nd quarter valued at about $165,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MOMO has been the subject of several research reports. Jefferies Financial Group boosted their price objective 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. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Benchmark cut their price objective on Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Hello Group has a consensus rating of “Hold” and a consensus target price of $7.93.

Hello Group Stock Down 1.0 %

MOMO opened at $7.78 on Thursday. The firm’s 50 day simple moving average is $6.70 and its two-hundred day simple moving average is $6.23. The company has a market capitalization of $1.13 billion, a PE ratio of 7.07, a PEG ratio of 1.99 and a beta of 0.53. Hello Group Inc. has a 1-year low of $4.79 and a 1-year high of $8.19. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.17.

Hello Group (NASDAQ:MOMO) last announced its earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $2.13. The company 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 revenue for the quarter was down 14.2% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS. As a group, equities analysts forecast that Hello Group Inc. will post 0.73 EPS for the current year.

Hello Group Company 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.