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

Polymer Capital Management HK LTD purchased a new position in shares of Hello Group Inc. (NASDAQ:MOMO) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 117,500 shares of the information services provider’s stock, valued at approximately $894,000. Polymer Capital Management HK LTD owned about 0.08% of Hello Group at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MOMO. First Beijing Investment Ltd purchased a new stake in shares of Hello Group in the third quarter valued at approximately $30,773,000. Dimensional Fund Advisors LP raised its stake in Hello Group by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock worth $22,736,000 after purchasing an additional 633,746 shares during the period. BRIGHT VALLEY CAPITAL Ltd acquired a new position in Hello Group in the 2nd quarter valued at about $22,553,000. Polunin Capital Partners Ltd purchased a new stake in shares of Hello Group in the 2nd quarter valued at approximately $4,566,000. Finally, American Century Companies Inc. raised its position in shares of Hello Group by 22.6% during the 2nd quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock valued at $4,417,000 after buying an additional 133,113 shares during the period. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MOMO. Jefferies Financial Group increased their price objective on Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Bank of America downgraded Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Finally, Benchmark dropped their target price on Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Two investment 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 MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.93.

Hello Group Price Performance

MOMO stock opened at $6.65 on Wednesday. The business has a 50 day moving average price of $7.01 and a 200 day moving average price of $6.55. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.17. The stock has a market cap of $963.58 million, a price-to-earnings ratio of 6.65, a PEG ratio of 2.07 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 $8.19.

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

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.