StockNews.com Upgrades Hello Group (NASDAQ:MOMO) to "Buy"

StockNews.com upgraded shares of Hello Group (NASDAQ:MOMO - Free Report) from a hold rating to a buy rating in a research report sent to investors on Friday.

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

Hello Group Price Performance

Shares of NASDAQ:MOMO traded down $0.08 during midday trading on Friday, reaching $7.06. The company's stock had a trading volume of 1,205,159 shares, compared to its average volume of 1,338,501. Hello Group has a fifty-two week low of $4.79 and a fifty-two week high of $8.38. The company has a market capitalization of $1.02 billion, a P/E ratio of 7.28, a P/E/G ratio of 2.07 and a beta of 0.44. The business's fifty day simple moving average is $7.36 and its 200-day simple moving average is $7.12.

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Hello Group Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MOMO. QRG Capital Management Inc. grew its position in shares of Hello Group by 8.4% in the 4th 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 grew its position in shares of Hello Group by 3.6% in the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider's stock valued at $500,000 after acquiring an additional 2,280 shares during the period. Blue Trust Inc. grew its position in shares of 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 acquiring an additional 2,414 shares during the period. Kathmere Capital Management LLC grew its position in shares of 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 valued at $113,000 after acquiring an additional 3,407 shares during the period. Finally, Vident Advisory LLC grew its position 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 acquiring an additional 4,009 shares during the period. 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.