Hello Group (NASDAQ:MOMO) Rating Increased to Buy at StockNews.com

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

MOMO has been the subject of a number of other reports. Benchmark reiterated a “buy” rating and issued a $13.00 price objective on shares of Hello Group in a research report on Thursday. Citigroup lifted their price objective on Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Down 1.5 %

Hello Group stock opened at $7.06 on Friday. The stock has a 50-day simple moving average of $7.36 and a 200 day simple moving average of $7.12. Hello Group has a 12-month low of $4.79 and a 12-month high of $8.38. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 7.28, a P/E/G ratio of 2.07 and a beta of 0.44.

Hello Group Cuts Dividend

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

Hedge Funds Weigh In On Hello Group

Several institutional investors have recently modified their holdings of the stock. Vident Advisory LLC grew its position in shares of 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 buying an additional 4,009 shares during the period. Millennium Management LLC grew its position in shares of Hello Group by 1,590.1% during the 4th quarter. Millennium Management LLC now owns 174,536 shares of the information services provider’s stock worth $1,346,000 after buying an additional 164,209 shares during the period. Cetera Investment Advisers grew its position in shares of Hello Group by 3.6% during the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider’s stock worth $500,000 after buying an additional 2,280 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Hello Group during the 4th quarter worth about $4,535,000. Finally, AXA S.A. grew its position in shares of Hello Group by 125.3% during the 4th quarter. AXA S.A. now owns 42,278 shares of the information services provider’s stock worth $326,000 after buying an additional 23,516 shares during the period. 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.