Renaissance Technologies LLC Lowers Stock Holdings in Hello Group Inc. (NASDAQ:MOMO)

Renaissance Technologies LLC reduced its position in Hello Group Inc. (NASDAQ:MOMO) by 6.0% in the second quarter, Holdings Channel.com reports. The fund owned 8,662,698 shares of the information services provider’s stock after selling 555,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.06% of Hello Group worth $53,016,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Panagora Asset Management Inc. bought a new position in Hello Group in the 4th quarter valued at $1,623,000. Trexquant Investment LP boosted its stake in Hello Group by 177.9% during the fourth quarter. Trexquant Investment LP now owns 286,566 shares of the information services provider’s stock valued at $1,992,000 after buying an additional 183,430 shares during the period. Aigen Investment Management LP grew its position in Hello Group by 37.0% during the fourth quarter. Aigen Investment Management LP now owns 56,094 shares of the information services provider’s stock worth $390,000 after buying an additional 15,162 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Hello Group by 6.2% in the 4th quarter. Allianz Asset Management GmbH now owns 589,372 shares of the information services provider’s stock worth $4,096,000 after acquiring an additional 34,294 shares during the last quarter. Finally, Caxton Associates LP raised its holdings in shares of Hello Group by 59.6% in the 4th quarter. Caxton Associates LP now owns 352,739 shares of the information services provider’s stock valued at $2,452,000 after acquiring an additional 131,661 shares in the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Citigroup lowered their price objective on shares of Hello Group from $6.40 to $5.70 and set a “neutral” rating on the stock in a research report on Wednesday, May 29th. Jefferies Financial Group upped their target price on shares of Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Benchmark lowered their price target on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. cut Hello Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $13.00 to $6.00 in a report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hello Group presently has a consensus rating of “Hold” and a consensus target price of $7.93.

Hello Group Price Performance

Shares of Hello Group stock opened at $6.32 on Wednesday. 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 Inc. has a 12 month low of $4.79 and a 12 month high of $7.74. The stock has a 50 day moving average of $6.64 and a 200 day moving average of $6.22. The firm has a market cap of $915.76 million, a PE ratio of 5.75, a PEG ratio of 1.93 and a beta of 0.53.

Hello Group (NASDAQ:MOMO) last posted its earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $2.13. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the company earned $0.39 EPS. The company’s quarterly revenue was down 14.2% compared to the same quarter last year. On average, research analysts expect that Hello Group Inc. will post 0.75 EPS for the current fiscal 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.