Benchmark Reiterates Buy Rating for Hello Group (NASDAQ:MOMO)

Benchmark reaffirmed their buy rating on shares of Hello Group (NASDAQ:MOMO - Free Report) in a research note published on Thursday morning,Benzinga reports. They currently have a $13.00 price target on the information services provider's stock.

A number of other analysts have also recently issued reports on MOMO. StockNews.com upgraded Hello Group from a "sell" rating to a "hold" rating in a research report on Wednesday, November 27th. Citigroup boosted 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Hello Group currently has an average rating of "Hold" and a consensus price target of $8.25.

Hello Group Trading Up 1.1 %

MOMO stock traded up $0.08 during trading on Thursday, reaching $7.14. 3,434,995 shares of the stock were exchanged, compared to its average volume of 1,339,842. Hello Group has a twelve month low of $4.79 and a twelve month high of $8.38. The company has a market capitalization of $1.03 billion, a P/E ratio of 7.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.44. The stock has a 50 day simple moving average of $7.36 and a 200-day simple moving average of $7.12.

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Hello Group Cuts Dividend

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

Institutional Investors Weigh In On Hello Group

A number of hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in Hello Group during the fourth quarter worth about $35,000. Blue Trust Inc. grew its position in 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 acquiring an additional 2,414 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Hello Group during the 4th quarter valued at $79,000. Kathmere Capital Management LLC boosted its stake 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 in the last quarter. Finally, Vident Advisory LLC grew its holdings in shares of Hello Group by 34.0% during the fourth 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.

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.