Renaissance Technologies LLC Sells 301,008 Shares of Hello Group Inc. (NASDAQ:MOMO)

Renaissance Technologies LLC trimmed its holdings in Hello Group Inc. (NASDAQ:MOMO) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,314,890 shares of the information services provider’s stock after selling 301,008 shares during the period. Renaissance Technologies LLC owned about 5.74% of Hello Group worth $64,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in MOMO. QRG Capital Management Inc. raised its position in Hello Group by 8.4% in the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock worth $169,000 after acquiring an additional 1,690 shares during the period. Blue Trust Inc. raised its position in shares of Hello Group by 62.3% in the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 2,414 shares during the period. Kathmere Capital Management LLC raised its position in shares of Hello Group by 30.1% in the fourth quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 3,407 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Hello Group in the fourth quarter valued at approximately $35,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Hello Group by 105.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,030 shares of the information services provider’s stock valued at $160,000 after purchasing an additional 10,818 shares during the period. 50.96% of the stock is owned by institutional investors.

Hello Group Price Performance

NASDAQ:MOMO opened at $5.54 on Thursday. The firm has a market cap of $802.74 million, a PE ratio of 5.71, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33. The company has a 50-day moving average of $7.02 and a 200 day moving average of $7.08. Hello Group Inc. has a 1-year low of $4.79 and a 1-year high of $8.38.

Hello Group Cuts Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of Hello Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Benchmark reaffirmed a “buy” rating and set a $13.00 target price on shares of Hello Group in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.25.

Hello Group 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.