Hello Group (NASDAQ:MOMO) Hits New 52-Week High - Still a Buy?

Hello Group Inc. (NASDAQ:MOMO - Get Free Report)'s share price reached a new 52-week high on Friday . The company traded as high as $8.30 and last traded at $7.97, with a volume of 587400 shares changing hands. The stock had previously closed at $7.83.

Analysts Set New Price Targets

MOMO has been the subject of a number of recent research reports. Bank of America cut shares of Hello Group from a "buy" rating to an "underperform" rating in a report on Wednesday, November 6th. Citigroup increased their price objective on Hello Group from $5.90 to $7.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, StockNews.com upgraded Hello Group from a "sell" rating to a "hold" rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $8.25.

Hello Group Price Performance

The company has a market capitalization of $1.13 billion, a P/E ratio of 8.07, a PEG ratio of 1.89 and a beta of 0.47. The stock's fifty day simple moving average is $7.34 and its 200-day simple moving average is $7.02.

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Institutional Trading of Hello Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its position in shares of Hello Group by 8.4% in the fourth 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 during the period. Cetera Investment Advisers raised its stake in Hello Group by 3.6% during the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider's stock valued at $500,000 after purchasing an additional 2,280 shares during the last quarter. Blue Trust Inc. boosted its holdings 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 purchasing an additional 2,414 shares during the period. Kathmere Capital Management LLC grew its position in Hello Group by 30.1% in the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider's stock worth $113,000 after purchasing an additional 3,407 shares during the last quarter. Finally, Vident Advisory LLC increased its holdings 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 purchasing an additional 4,009 shares during the period. 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.