LPL Financial LLC Boosts Stake in Hello Group Inc. (NASDAQ:MOMO)

LPL Financial LLC lifted its holdings in Hello Group Inc. (NASDAQ:MOMO - Free Report) by 813.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 101,277 shares of the information services provider's stock after purchasing an additional 90,186 shares during the quarter. LPL Financial LLC owned about 0.07% of Hello Group worth $781,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in Hello Group during the 4th quarter worth approximately $8,616,000. Harbour Capital Advisors LLC raised its holdings in Hello Group by 86.9% in the 4th quarter. Harbour Capital Advisors LLC now owns 90,085 shares of the information services provider's stock valued at $647,000 after acquiring an additional 41,875 shares during the period. American Century Companies Inc. grew its holdings in Hello Group by 4.7% in 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 buying an additional 40,620 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in shares of Hello Group in the fourth quarter valued at about $158,000. Finally, Quantbot Technologies LP acquired a new stake in Hello Group in the 4th quarter worth about $148,000. Institutional investors own 50.96% of the company's stock.

Hello Group Trading Down 1.5 %

MOMO stock traded down $0.09 during midday trading on Friday, hitting $5.64. The stock had a trading volume of 530,437 shares, compared to its average volume of 1,335,273. The firm has a market cap of $816.51 million, a P/E ratio of 5.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33. The business has a fifty day moving average price of $6.57 and a two-hundred day moving average price of $6.93. Hello Group Inc. has a 1-year low of $4.79 and a 1-year high of $8.38.

Hello Group Cuts Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on MOMO. StockNews.com upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a research report on Tuesday. Benchmark reiterated a "buy" rating and issued a $13.00 target price on shares of Hello Group in a research 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $8.25.

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.