Allianz Asset Management GmbH Buys 28,278 Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)

Allianz Asset Management GmbH grew its stake in Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 10.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 292,362 shares of the information services provider’s stock after purchasing an additional 28,278 shares during the period. Allianz Asset Management GmbH’s holdings in Hello Group were worth $1,845,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in shares of Hello Group in the 4th quarter valued at approximately $10,765,000. American Century Companies Inc. raised its holdings in shares of Hello Group by 4.7% in the fourth quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider’s stock worth $7,036,000 after buying an additional 40,620 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Hello Group in the fourth quarter worth approximately $4,535,000. Northern Trust Corp raised its holdings in shares of Hello Group by 53.3% in the fourth quarter. Northern Trust Corp now owns 390,686 shares of the information services provider’s stock worth $3,012,000 after buying an additional 135,879 shares during the period. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Hello Group in the fourth quarter worth approximately $1,789,000. 50.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Hello Group from a “hold” rating to a “buy” rating in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.00.

Hello Group Stock Down 1.4%

MOMO opened at $8.32 on Thursday. The stock’s fifty day moving average is $7.97 and its two-hundred day moving average is $7.12. The company has a market capitalization of $1.00 billion, a P/E ratio of 6.40 and a beta of 0.43. Hello Group Inc. Sponsored ADR has a 52 week low of $5.12 and a 52 week high of $9.22.

Hello Group 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.