Hello Group (NASDAQ:MOMO) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Hello Group (NASDAQ:MOMO) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Several other research analysts also recently commented on MOMO. Benchmark reiterated a “buy” rating and issued a $13.00 target price on shares of Hello Group in a report on Thursday. Citigroup lifted their target price on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.25.

Hello Group Price Performance

Shares of MOMO opened at $7.06 on Friday. The company has a market capitalization of $1.02 billion, a PE ratio of 7.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.44. Hello Group has a one year low of $4.79 and a one year high of $8.38. The company’s fifty day moving average price is $7.36 and its 200 day moving average price is $7.11.

Hello Group Cuts Dividend

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

Institutional Trading of Hello Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Hello Group during the 4th quarter valued at about $8,616,000. SBI Securities Co. Ltd. acquired a new stake in shares of Hello Group during the 4th quarter valued at about $35,000. Caprock Group LLC boosted its position in shares of Hello Group by 47.3% during the 4th quarter. Caprock Group LLC now owns 35,763 shares of the information services provider’s stock valued at $276,000 after acquiring an additional 11,484 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Hello Group by 105.9% during the 3rd 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 acquiring an additional 10,818 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in shares of Hello Group by 8.4% during the 4th quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock valued at $169,000 after acquiring an additional 1,690 shares in the last quarter. 50.96% of the stock is currently owned by institutional investors and hedge funds.

About Hello Group

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.