Hello Group (NASDAQ:MOMO) Lowered 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 report issued on Tuesday.

Separately, Benchmark reiterated a “buy” rating and set a $13.00 target price on shares of Hello Group in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Performance

MOMO opened at $6.40 on Tuesday. The business’s 50-day simple moving average is $6.11 and its 200-day simple moving average is $6.83. Hello Group has a one year low of $4.79 and a one year high of $8.38. The stock has a market capitalization of $771.12 million, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.24.

Hello Group Cuts Dividend

The company also recently announced an annual dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th were given a dividend of $0.30 per share. This represents a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, April 11th.

Hedge Funds Weigh In On Hello Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Summit Securities Group LLC purchased a new position in shares of Hello Group during the first quarter worth about $56,000. E Fund Management Co. Ltd. grew its holdings in shares of Hello Group by 352.2% during the first quarter. E Fund Management Co. Ltd. now owns 111,601 shares of the information services provider’s stock worth $704,000 after buying an additional 86,923 shares during the last quarter. Nuveen LLC purchased a new position in shares of Hello Group during the first quarter worth about $793,000. Aigen Investment Management LP purchased a new position in shares of Hello Group during the first quarter worth about $85,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Hello Group by 642.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 189,576 shares of the information services provider’s stock worth $1,196,000 after buying an additional 164,040 shares during the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

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.