Hello Group (NASDAQ:MOMO) Downgraded to “Hold” Rating by StockNews.com

StockNews.com cut shares of Hello Group (NASDAQ:MOMO) from a buy rating to a hold rating in a research note released on Wednesday morning.

Other equities analysts have also recently issued reports about the stock. Benchmark reaffirmed a “buy” rating and set a $13.00 price target on shares of Hello Group in a research note on Thursday, March 13th. Citigroup raised their target price 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Performance

NASDAQ:MOMO opened at $6.27 on Wednesday. The stock has a 50-day simple moving average of $7.25 and a 200 day simple moving average of $7.13. Hello Group has a 52-week low of $4.79 and a 52-week high of $8.38. The company has a market cap of $908.52 million, a PE ratio of 6.46, a PEG ratio of 2.07 and a beta of 0.44.

Hello Group Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th will be given a $0.30 dividend. The ex-dividend date is Friday, April 11th. This represents a dividend yield of 4.18%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vident Advisory LLC increased its holdings in shares of Hello Group by 34.0% in the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock valued at $122,000 after purchasing an additional 4,009 shares during the last quarter. Millennium Management LLC grew its stake in Hello Group by 1,590.1% in the 4th quarter. Millennium Management LLC now owns 174,536 shares of the information services provider’s stock valued at $1,346,000 after buying an additional 164,209 shares during the last quarter. Cetera Investment Advisers lifted its position in Hello Group by 3.6% during the fourth quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider’s stock worth $500,000 after acquiring an additional 2,280 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Hello Group during the fourth quarter worth approximately $4,535,000. Finally, AXA S.A. boosted its holdings in shares of Hello Group by 125.3% during the fourth quarter. AXA S.A. now owns 42,278 shares of the information services provider’s stock worth $326,000 after acquiring an additional 23,516 shares during the period. 50.96% of the stock is owned by institutional investors and hedge funds.

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.