Hello Group (NASDAQ:MOMO) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Hello Group (NASDAQ:MOMO) from a buy rating to a hold rating in a research report released on Tuesday.

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

Hello Group Trading Up 1.9%

Shares of MOMO opened at $6.40 on Tuesday. Hello Group has a twelve month low of $4.79 and a twelve month high of $8.38. The stock’s 50 day moving average is $6.11 and its two-hundred day moving average is $6.83. The firm has a market capitalization of $771.12 million, a PE ratio of 6.60, a P/E/G ratio of 2.07 and a beta of 0.24.

Hello Group Cuts Dividend

The business also recently declared 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. The ex-dividend date was Friday, April 11th. This represents a dividend yield of 4.18%.

Institutional Investors Weigh In On Hello Group

A number of hedge funds and other institutional investors have recently modified their holdings of MOMO. Norges Bank acquired a new stake in shares of Hello Group during the 4th quarter valued at approximately $10,765,000. Assenagon Asset Management S.A. acquired a new position in shares of Hello Group during the 4th quarter worth approximately $8,616,000. BNP Paribas Financial Markets acquired a new position in shares of Hello Group during the 4th quarter worth approximately $4,535,000. LSV Asset Management raised its position in shares of Hello Group by 25.4% during the 1st quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider’s stock worth $17,365,000 after purchasing an additional 557,777 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Hello Group during the 1st quarter worth approximately $2,638,000. 50.96% of the stock is currently 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.