Renaissance Technologies LLC Sells 301,008 Shares of Hello Group Inc. (NASDAQ:MOMO)

Renaissance Technologies LLC reduced its stake in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,314,890 shares of the information services provider's stock after selling 301,008 shares during the period. Renaissance Technologies LLC owned 5.74% of Hello Group worth $64,108,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MOMO. O Shaughnessy Asset Management LLC purchased a new position in Hello Group during the fourth quarter valued at approximately $1,789,000. Norges Bank bought a new stake in shares of Hello Group during the 4th quarter valued at $10,765,000. LPL Financial LLC lifted its stake in shares of Hello Group by 813.1% during the 4th quarter. LPL Financial LLC now owns 101,277 shares of the information services provider's stock valued at $781,000 after buying an additional 90,186 shares in the last quarter. American Century Companies Inc. boosted 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 worth $7,036,000 after buying an additional 40,620 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Hello Group in the 4th quarter worth $148,000. 50.96% of the stock is currently owned by institutional investors.

Hello Group Price Performance

Shares of MOMO stock traded up $0.13 during trading hours on Tuesday, hitting $5.55. The stock had a trading volume of 375,976 shares, compared to its average volume of 1,359,839. The stock has a market capitalization of $804.19 million, a price-to-earnings ratio of 5.72, a PEG ratio of 2.07 and a beta of 0.33. Hello Group Inc. has a one year low of $4.79 and a one year high of $8.38. The stock's 50-day moving average price is $6.91 and its two-hundred day moving average price is $7.05.

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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. This represents a yield of 4.18%. The ex-dividend date is Friday, April 11th.

Analyst Ratings Changes

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

Hello Group 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.