Hello Group (NASDAQ:MOMO) Shares Gap Down - Here's Why

Shares of Hello Group Inc. (NASDAQ:MOMO - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $5.53, but opened at $5.30. Hello Group shares last traded at $5.29, with a volume of 153,762 shares trading hands.

Analyst Ratings Changes

MOMO has been the subject of several recent research reports. StockNews.com raised Hello Group from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Benchmark restated a "buy" rating and set a $13.00 price objective on shares of Hello Group in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $8.25.

Hello Group Stock Down 3.8 %

The stock has a 50-day moving average price of $6.88 and a 200 day moving average price of $7.04. The firm has a market capitalization of $766.52 million, a price-to-earnings ratio of 5.45, a P/E/G ratio of 2.07 and a beta of 0.33.

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 dividend of $0.30 per share. The ex-dividend date is Friday, April 11th. This represents a yield of 4.18%.

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Institutional Trading of Hello Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Hello Group during the fourth quarter worth approximately $35,000. Blue Trust Inc. boosted its position in shares of Hello Group by 62.3% during the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock worth $48,000 after purchasing an additional 2,414 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Hello Group during the 4th quarter worth $79,000. Kathmere Capital Management LLC grew its stake in shares of 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 purchasing an additional 3,407 shares during the period. Finally, Vident Advisory LLC increased its holdings in shares of Hello Group by 34.0% in the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock valued at $122,000 after purchasing an additional 4,009 shares in the last quarter. Hedge funds and other institutional investors own 50.96% of the company's stock.

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.