Kathmere Capital Management LLC Purchases Shares of 12,081 Hello Group Inc. (NASDAQ:MOMO)

Kathmere Capital Management LLC purchased a new stake in Hello Group Inc. (NASDAQ:MOMO) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,081 shares of the information services provider’s stock, valued at approximately $74,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in Hello Group by 14.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,274,996 shares of the information services provider’s stock valued at $29,711,000 after buying an additional 555,602 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Hello Group by 994.2% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,617,308 shares of the information services provider’s stock worth $10,043,000 after purchasing an additional 1,469,500 shares in the last quarter. Trexquant Investment LP grew its position in Hello Group by 177.9% during the 4th quarter. Trexquant Investment LP now owns 286,566 shares of the information services provider’s stock worth $1,992,000 after purchasing an additional 183,430 shares during the last quarter. Sei Investments Co. increased its stake in Hello Group by 26.3% during the 1st quarter. Sei Investments Co. now owns 448,013 shares of the information services provider’s stock valued at $2,782,000 after purchasing an additional 93,238 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Hello Group by 33.5% in the first quarter. LSV Asset Management now owns 2,277,629 shares of the information services provider’s stock worth $14,144,000 after buying an additional 571,840 shares during the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MOMO. JPMorgan Chase & Co. downgraded Hello Group from an “overweight” rating to a “neutral” rating and cut their target price for the company from $13.00 to $6.00 in a research report on Monday, June 3rd. Citigroup reduced their price objective on Hello Group from $6.40 to $5.70 and set a “neutral” rating for the company in a research note on Wednesday, May 29th. Benchmark decreased their target price on Hello Group from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Finally, Morgan Stanley downgraded shares of Hello Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Hello Group currently has an average rating of “Hold” and a consensus target price of $8.90.

Hello Group Stock Performance

Hello Group stock traded down $0.11 during midday trading on Friday, hitting $6.52. 922,593 shares of the company were exchanged, compared to its average volume of 1,323,577. The business has a fifty day simple moving average of $6.13 and a two-hundred day simple moving average of $6.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a market capitalization of $944.75 million, a PE ratio of 5.93, a price-to-earnings-growth ratio of 1.97 and a beta of 0.51. Hello Group Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $11.12.

Hello Group (NASDAQ:MOMO) last posted its earnings results on Tuesday, May 28th. The information services provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. Hello Group had a net margin of 13.38% and a return on equity of 13.61%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same period in the previous year, the firm earned $0.28 EPS. The business’s quarterly revenue was down 9.2% on a year-over-year basis. On average, sell-side analysts forecast that Hello Group Inc. will post 0.75 earnings per share for the current year.

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.