Hello Group Inc. (NASDAQ:MOMO) Holdings Lowered by Invesco Ltd.

Invesco Ltd. reduced its position in Hello Group Inc. (NASDAQ:MOMO - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,307,050 shares of the information services provider's stock after selling 529,788 shares during the period. Invesco Ltd. owned approximately 3.66% of Hello Group worth $40,917,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. O Shaughnessy Asset Management LLC acquired a new position in Hello Group in the fourth quarter worth about $1,789,000. Norges Bank acquired a new position in shares of Hello Group in the 4th quarter worth approximately $10,765,000. LPL Financial LLC increased its holdings in shares of Hello Group by 813.1% in the 4th quarter. LPL Financial LLC now owns 101,277 shares of the information services provider's stock valued at $781,000 after acquiring an additional 90,186 shares during the last quarter. American Century Companies Inc. raised its position in shares of Hello Group by 4.7% during the 4th quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider's stock valued at $7,036,000 after acquiring an additional 40,620 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Hello Group during the fourth quarter worth $148,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Hello Group from a "hold" rating to a "buy" rating in a research report on Tuesday. Benchmark reaffirmed a "buy" rating and set a $13.00 target price on shares of Hello Group in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $8.25.

Hello Group Price Performance

Shares of NASDAQ MOMO traded up $0.09 during midday trading on Tuesday, hitting $5.57. 819,907 shares of the company's stock were exchanged, compared to its average volume of 1,342,573. Hello Group Inc. has a twelve month low of $4.79 and a twelve month high of $8.38. The firm has a market cap of $807.09 million, a P/E ratio of 5.74, a PEG ratio of 2.07 and a beta of 0.33. The stock's 50 day moving average price is $6.66 and its 200-day moving average price is $6.96.

Hello Group Cuts Dividend

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

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.