Hello Group (NASDAQ:MOMO) Upgraded 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 Tuesday.

Other equities analysts also recently issued research reports about the company. Benchmark reiterated a “buy” rating and issued a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. Citigroup increased their price target on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Performance

Hello Group stock opened at $6.37 on Tuesday. Hello Group has a fifty-two week low of $4.79 and a fifty-two week high of $8.38. The stock’s 50 day simple moving average is $7.34 and its two-hundred day simple moving average is $7.13. The stock has a market cap of $923.01 million, a price-to-earnings ratio of 6.57, a PEG ratio of 2.07 and a beta of 0.44.

Hello Group Cuts Dividend

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

Institutional Trading of Hello Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $160,000 after buying an additional 10,818 shares in the last quarter. Polymer Capital Management HK LTD purchased a new position in Hello Group in the 3rd quarter worth approximately $894,000. Quadrature Capital Ltd lifted its position in Hello Group by 40.2% in the 3rd quarter. Quadrature Capital Ltd now owns 69,492 shares of the information services provider’s stock valued at $528,000 after acquiring an additional 19,909 shares in the last quarter. XTX Topco Ltd boosted its stake in Hello Group by 95.1% during the 3rd quarter. XTX Topco Ltd now owns 52,720 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 25,700 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Hello Group in the 3rd quarter worth $1,013,000. 50.96% of the stock is currently owned by institutional investors.

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.