Geode Capital Management LLC Has $2 Million Position in Hello Group Inc. (NASDAQ:MOMO)

Geode Capital Management LLC trimmed its position in Hello Group Inc. (NASDAQ:MOMO) by 2.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 263,127 shares of the information services provider’s stock after selling 6,303 shares during the period. Geode Capital Management LLC’s holdings in Hello Group were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Hello Group by 472.1% during the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after purchasing an additional 3,196 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 purchasing an additional 10,818 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Hello Group during the second quarter worth about $68,000. Kathmere Capital Management LLC acquired a new stake in Hello Group during the second quarter worth about $74,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Hello Group in the 2nd quarter valued at about $87,000. Institutional investors own 50.96% of the company’s stock.

Hello Group Price Performance

MOMO opened at $6.90 on Thursday. Hello Group Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $8.19. The firm has a market capitalization of $999.80 million, a P/E ratio of 7.11, a PEG ratio of 2.40 and a beta of 0.48. The company’s 50-day moving average is $7.07 and its 200 day moving average is $6.85.

Analyst Ratings Changes

Several research analysts have commented on MOMO shares. Citigroup boosted their price objective on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Finally, Bank of America downgraded Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.25.

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.