Wellington Management Group LLP Sells 720,876 Shares of Hello Group Inc. (NASDAQ:MOMO)

Wellington Management Group LLP reduced its position in Hello Group Inc. (NASDAQ:MOMO - Free Report) by 83.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,253 shares of the information services provider's stock after selling 720,876 shares during the period. Wellington Management Group LLP owned about 0.10% of Hello Group worth $1,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Hello Group by 472.1% in the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider's stock worth $29,000 after acquiring an additional 3,196 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Hello Group in the 2nd quarter worth approximately $68,000. Kathmere Capital Management LLC bought a new position in shares of Hello Group during the 2nd quarter valued at $74,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Hello Group in the 2nd quarter worth $87,000. Finally, SG Americas Securities LLC bought a new stake in shares of Hello Group in the third quarter worth $125,000. 50.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MOMO. Benchmark dropped their target price 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. Jefferies Financial Group boosted their target price on shares of Hello Group from $6.50 to $7.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Bank of America downgraded shares of Hello Group from a "buy" rating to an "underperform" rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Hello Group from a "sell" rating to a "hold" rating in a research report on Wednesday, November 27th. Finally, Citigroup lifted their target price on Hello Group from $5.90 to $7.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $8.25.

Hello Group Trading Up 0.7 %

Shares of MOMO traded up $0.05 during trading hours on Friday, reaching $7.35. 1,235,056 shares of the stock traded hands, compared to its average volume of 1,649,789. Hello Group Inc. has a 52-week low of $4.79 and a 52-week high of $8.19. The company has a market cap of $1.07 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 2.35 and a beta of 0.51. The company's 50-day moving average price is $6.96 and its two-hundred day moving average price is $6.68.

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.