Polymer Capital Management HK LTD Invests $894,000 in Hello Group Inc. (NASDAQ:MOMO)

Polymer Capital Management HK LTD purchased a new stake in Hello Group Inc. (NASDAQ:MOMO) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 117,500 shares of the information services provider’s stock, valued at approximately $894,000.

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

Hello Group Trading Down 1.9 %

Shares of MOMO opened at $6.65 on Wednesday. Hello Group Inc. has a 1-year low of $4.79 and a 1-year high of $8.19. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.55 and a quick ratio of 2.55. The firm has a 50 day simple moving average of $7.01 and a 200-day simple moving average of $6.55. The stock has a market cap of $963.58 million, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 2.07 and a beta of 0.51.

Hello Group (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $2.13. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.67 billion. Hello Group had a net margin of 12.40% and a return on equity of 12.09%. The company’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities analysts forecast that Hello Group Inc. will post 0.73 EPS for the current fiscal year.

Analyst Ratings Changes

MOMO has been the subject of several analyst reports. Jefferies Financial Group increased their price target on shares of Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Benchmark reduced their price target on Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Finally, Bank of America downgraded Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.93.

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.