Brokerages Set Hello Group Inc. (NASDAQ:MOMO) Target Price at $8.25

Shares of Hello Group Inc. (NASDAQ:MOMO) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $8.25.

MOMO has been the topic of several research analyst reports. StockNews.com raised shares of Hello Group from a “hold” rating to a “buy” rating in a research note on Tuesday, March 25th. Citigroup increased their price objective on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $13.00 price target on shares of Hello Group in a research note on Thursday, March 13th.

Hello Group Stock Down 0.2 %

Shares of MOMO stock opened at $6.31 on Tuesday. The firm has a 50 day moving average of $7.29 and a 200-day moving average of $7.13. The company has a market cap of $914.31 million, a price-to-earnings ratio of 6.51, a price-to-earnings-growth ratio of 2.07 and a beta of 0.44. Hello Group has a 52 week low of $4.79 and a 52 week high of $8.38.

Hello Group Cuts Dividend

The firm also recently announced 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 of this dividend is Friday, April 11th. This represents a dividend yield of 4.18%.

Hedge Funds Weigh In On Hello Group

A number of hedge funds have recently added to or reduced their stakes in MOMO. SBI Securities Co. Ltd. bought a new position in shares of Hello Group in the fourth quarter valued at approximately $35,000. Blue Trust Inc. raised its position in Hello Group by 62.3% in the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after buying an additional 2,414 shares during the last quarter. Hsbc Holdings PLC bought a new position in Hello Group during the 4th quarter valued at $79,000. Kathmere Capital Management LLC boosted its holdings in Hello Group by 30.1% during the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock worth $113,000 after acquiring an additional 3,407 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in Hello Group by 34.0% during the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock worth $122,000 after acquiring an additional 4,009 shares during the last quarter. Institutional investors and hedge funds 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.