Hello Group (NASDAQ:MOMO) Shares Gap Down to $6.12

Hello Group Inc. (NASDAQ:MOMO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $6.12, but opened at $5.99. Hello Group shares last traded at $6.08, with a volume of 475,992 shares.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TheStreet downgraded Hello Group from a “b-” rating to a “c” rating in a research report on Monday, December 11th. StockNews.com downgraded Hello Group from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Benchmark dropped their target price on Hello Group from $22.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.83.

Hello Group Stock Down 0.5 %

The firm has a 50 day moving average price of $6.29 and a 200-day moving average price of $6.71. The company has a current ratio of 3.74, a quick ratio of 3.72 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.16 billion, a PE ratio of 4.50 and a beta of 0.70.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings data on Thursday, March 14th. The information services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $422.95 million during the quarter, compared to analysts’ expectations of $447.28 million. Hello Group had a net margin of 16.27% and a return on equity of 17.23%. Research analysts forecast that Hello Group Inc. will post 1.46 EPS for the current fiscal year.

Hello Group Cuts Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be paid a dividend of $0.52 per share. This represents a yield of 8.97%. The ex-dividend date of this dividend is Thursday, April 11th.

Institutional Investors Weigh In On Hello Group

Institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its stake in Hello Group by 254.8% during the second quarter. Point72 Asset Management L.P. now owns 3,012 shares of the information services provider’s stock worth $29,000 after purchasing an additional 2,163 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Hello Group during the fourth quarter worth approximately $28,000. Quantbot Technologies LP purchased a new stake in Hello Group during the first quarter worth approximately $32,000. Lazard Asset Management LLC lifted its stake in Hello Group by 103.0% during the third quarter. Lazard Asset Management LLC now owns 7,041 shares of the information services provider’s stock worth $49,000 after purchasing an additional 3,573 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Hello Group during the third quarter worth approximately $55,000. 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. 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.