Alpine Investment Management Ltd Sells 715,000 Shares of Hello Group Inc. (NASDAQ:MOMO)

Alpine Investment Management Ltd lowered its position in Hello Group Inc. (NASDAQ:MOMO - Free Report) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,500,000 shares of the information services provider's stock after selling 715,000 shares during the quarter. Hello Group makes up about 5.5% of Alpine Investment Management Ltd's investment portfolio, making the stock its 5th largest holding. Alpine Investment Management Ltd owned 1.73% of Hello Group worth $19,275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new stake in shares of Hello Group during the 4th quarter valued at $8,616,000. SBI Securities Co. Ltd. bought a new position in shares of Hello Group during the 4th quarter worth about $35,000. Caprock Group LLC lifted its holdings in shares of Hello Group by 47.3% in the 4th quarter. Caprock Group LLC now owns 35,763 shares of the information services provider's stock worth $276,000 after purchasing an additional 11,484 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Hello Group by 8.4% during the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider's stock worth $169,000 after acquiring an additional 1,690 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Hello Group by 105.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,030 shares of the information services provider's stock worth $160,000 after buying an additional 10,818 shares in the last quarter. Institutional investors own 50.96% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several research firms recently commented on MOMO. StockNews.com downgraded Hello Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Benchmark reiterated a "buy" rating and issued a $13.00 price objective on shares of Hello Group in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Hello Group has an average rating of "Hold" and a consensus price target of $8.25.

Hello Group Stock Up 1.4 %

Shares of NASDAQ MOMO traded up $0.08 during trading on Thursday, reaching $5.62. 755,654 shares of the company traded hands, compared to its average volume of 1,373,155. The stock has a market capitalization of $813.61 million, a PE ratio of 5.78, a P/E/G ratio of 2.07 and a beta of 0.33. Hello Group Inc. has a 52-week low of $4.79 and a 52-week high of $8.38. The firm has a 50 day simple moving average of $7.02 and a 200-day simple moving average of $7.08.

Hello Group Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th will be paid a $0.30 dividend. The ex-dividend date is Friday, April 11th. This represents a yield of 4.18%.

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.