Hello Group (NASDAQ:MOMO) Trading 4.2% Higher After Dividend Announcement

Hello Group Inc. (NASDAQ:MOMO - Get Free Report) traded up 4.2% on Thursday after the company announced a dividend. The stock traded as high as $7.12 and last traded at $7.09. 574,725 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 1,053,519 shares. The stock had previously closed at $6.80.

The newly announced dividend which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th will be issued a $0.30 dividend. This represents a dividend yield of 4.18%. The ex-dividend date is Friday, April 11th.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup lifted their price target 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. StockNews.com upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Benchmark restated a "buy" rating and set a $13.00 price target on shares of Hello Group in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Hello Group has an average rating of "Hold" and an average price target of $8.25.

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Hello Group Price Performance

The stock's 50 day simple moving average is $7.36 and its two-hundred day simple moving average is $7.12. The company has a market capitalization of $1.02 billion, a P/E ratio of 7.25, a P/E/G ratio of 2.07 and a beta of 0.44.

Institutional Trading of Hello Group

A number of hedge funds and other institutional investors have recently modified their holdings of MOMO. SBI Securities Co. Ltd. acquired a new position in Hello Group during the 4th quarter worth $35,000. Blue Trust Inc. lifted its stake in shares of Hello Group by 62.3% during the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock valued at $48,000 after acquiring an additional 2,414 shares during the period. Hsbc Holdings PLC bought a new position in Hello Group in the fourth quarter valued at about $79,000. Kathmere Capital Management LLC increased its position in Hello Group by 30.1% in the fourth 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 raised its holdings in 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 last quarter. 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.