Vanguard Group Inc. cut its holdings in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,288,053 shares of the information services provider's stock after selling 157,215 shares during the quarter. Vanguard Group Inc. owned 3.65% of Hello Group worth $40,771,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MOMO. Assenagon Asset Management S.A. purchased a new stake in shares of Hello Group during the fourth quarter worth $8,616,000. American Century Companies Inc. grew its stake in 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 worth $7,036,000 after purchasing an additional 40,620 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Hello Group during the 3rd quarter worth about $1,013,000. LPL Financial LLC raised its position in 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 purchasing an additional 90,186 shares in the last quarter. Finally, Harbour Capital Advisors LLC grew its position in shares of Hello Group by 86.9% during the fourth quarter. Harbour Capital Advisors LLC now owns 90,085 shares of the information services provider's stock worth $647,000 after buying an additional 41,875 shares in the last quarter. Hedge funds and other institutional investors own 50.96% of the company's stock.
Hello Group Stock Performance
MOMO stock traded down $0.20 during midday trading on Wednesday, reaching $5.30. 537,265 shares of the company were exchanged, compared to its average volume of 1,350,963. The company has a market cap of $767.96 million, a price-to-earnings ratio of 5.46, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33. Hello Group Inc. has a 1-year low of $4.79 and a 1-year high of $8.38. The stock's 50-day simple moving average is $6.88 and its 200 day simple moving average is $7.04.
Hello Group Cuts Dividend
The business also recently declared an annual dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, April 11th. This represents a yield of 4.18%.
Analyst Upgrades and Downgrades
Several research analysts have commented on MOMO shares. Benchmark reiterated a "buy" rating and set a $13.00 price target on shares of Hello Group in a report on Thursday, March 13th. StockNews.com raised shares of Hello Group from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $8.25.
Read Our Latest Research Report on Hello Group
About Hello Group
(
Free Report)
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.
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