Causeway Capital Management LLC Grows Position in Hello Group Inc. Sponsored ADR $MOMO

Causeway Capital Management LLC lifted its position in shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) by 19.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,794,347 shares of the information services provider’s stock after purchasing an additional 448,123 shares during the quarter. Causeway Capital Management LLC owned about 2.34% of Hello Group worth $20,734,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Thrivent Financial for Lutherans acquired a new position in Hello Group during the third quarter valued at approximately $3,366,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Hello Group during the 3rd quarter valued at $2,069,000. Jupiter Asset Management Ltd. boosted its position in Hello Group by 98.1% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 828,200 shares of the information services provider’s stock worth $6,990,000 after purchasing an additional 410,200 shares during the period. Prudential Financial Inc. purchased a new stake in Hello Group during the 2nd quarter worth $4,017,000. Finally, Assenagon Asset Management S.A. increased its holdings in Hello Group by 406.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 967,791 shares of the information services provider’s stock valued at $7,181,000 after purchasing an additional 776,770 shares in the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

Wall Street Analysts Forecast Growth

MOMO has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Hello Group in a research note on Monday, December 22nd. Zacks Research upgraded Hello Group from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Finally, Jefferies Financial Group set a $8.10 price objective on shares of Hello Group in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Hello Group presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Hello Group Trading Up 0.6%

Hello Group stock opened at $6.20 on Tuesday. The stock has a market cap of $739.41 million, a P/E ratio of 7.47 and a beta of 0.35. The stock has a 50 day moving average of $6.65 and a 200-day moving average of $6.99. Hello Group Inc. Sponsored ADR has a 52 week low of $5.12 and a 52 week high of $9.22.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings data on Wednesday, December 10th. The information services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $372.16 million during the quarter, compared to analyst estimates of $362.80 million. Hello Group had a net margin of 5.96% and a return on equity of 10.07%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business earned $2.70 EPS. As a group, equities analysts predict that Hello Group Inc. Sponsored ADR will post 0.73 earnings per share for the current fiscal year.

About Hello Group

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.