Hello Group (NASDAQ:MOMO) Cut to Hold at StockNews.com

Hello Group (NASDAQ:MOMO - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday.

MOMO has been the subject of several other research reports. Benchmark restated a "buy" rating and set a $13.00 price target on shares of Hello Group in a report on Thursday, March 13th. Citigroup raised their target price on shares of Hello Group from $5.90 to $7.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $8.25.

Hello Group Stock Performance

Shares of MOMO traded down $0.16 during midday trading on Wednesday, hitting $6.11. 674,518 shares of the company traded hands, compared to its average volume of 1,381,192. The stock has a market cap of $885.33 million, a price-to-earnings ratio of 6.30, a PEG ratio of 2.07 and a beta of 0.44. The firm has a 50 day moving average of $7.23 and a 200-day moving average of $7.12. Hello Group has a 52 week low of $4.79 and a 52 week high of $8.38.

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Hedge Funds Weigh In On Hello Group

Institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 during the last quarter. Polymer Capital Management HK LTD purchased a new stake in shares of Hello Group in the third quarter valued at $894,000. Quadrature Capital Ltd lifted its holdings in shares of Hello Group by 40.2% in the 3rd quarter. Quadrature Capital Ltd now owns 69,492 shares of the information services provider's stock worth $528,000 after acquiring an additional 19,909 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Hello Group by 95.1% during the 3rd quarter. XTX Topco Ltd now owns 52,720 shares of the information services provider's stock worth $401,000 after purchasing an additional 25,700 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in Hello Group during the 3rd quarter valued at about $1,013,000. Hedge funds and other institutional investors 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.