Hello Group Inc. Sponsored ADR (NASDAQ:MOMO – Get Free Report)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $5.41 and last traded at $5.48, with a volume of 824804 shares traded. The stock had previously closed at $5.49.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on MOMO. UBS Group set a $10.00 price objective on Hello Group in a research report on Thursday, June 4th. Weiss Ratings cut Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Finally, Benchmark restated a “buy” rating on shares of Hello Group in a research note on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.05.
View Our Latest Stock Report on Hello Group
Hello Group Price Performance
Hello Group Cuts Dividend
The firm also recently announced an annual dividend, which was paid on Thursday, April 30th. Investors of record on Friday, April 10th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, April 10th. This represents a yield of 475.0%.
Institutional Investors Weigh In On Hello Group
Several institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in Hello Group by 249.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,439 shares of the information services provider’s stock valued at $26,000 after buying an additional 3,170 shares during the last quarter. Cetera Investment Advisers lifted its stake in Hello Group by 3.2% in the first quarter. Cetera Investment Advisers now owns 67,726 shares of the information services provider’s stock valued at $390,000 after buying an additional 2,096 shares during the last quarter. ABN Amro Investment Solutions lifted its stake in Hello Group by 45.6% in the first quarter. ABN Amro Investment Solutions now owns 38,300 shares of the information services provider’s stock valued at $221,000 after buying an additional 12,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Hello Group by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,408,461 shares of the information services provider’s stock valued at $13,868,000 after buying an additional 37,306 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Hello Group by 12.1% in the first quarter. QRG Capital Management Inc. now owns 21,964 shares of the information services provider’s stock valued at $127,000 after buying an additional 2,372 shares during the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.
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.
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