Hello Group Sees Unusually High Options Volume (NASDAQ:MOMO)

Hello Group Inc. (NASDAQ:MOMO) saw unusually large options trading activity on Wednesday. Investors bought 8,207 call options on the company. This represents an increase of approximately 861% compared to the average daily volume of 854 call options.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MOMO shares. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Bank of America cut shares of Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Finally, Citigroup increased their price objective on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Hello Group currently has a consensus rating of “Hold” and an average price target of $8.25.

Hello Group Stock Down 3.5 %

Shares of NASDAQ:MOMO opened at $7.17 on Thursday. Hello Group has a 52-week low of $4.79 and a 52-week high of $8.19. The company has a 50 day moving average of $7.12 and a two-hundred day moving average of $6.93. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 1.85 and a beta of 0.48.

Institutional Trading of Hello Group

Hedge funds have recently made changes to their positions in the stock. BRIGHT VALLEY CAPITAL Ltd acquired a new position in Hello Group in the second quarter worth $22,553,000. Assenagon Asset Management S.A. bought a new stake in shares of Hello Group during the fourth quarter valued at about $8,616,000. Dimensional Fund Advisors LP raised its stake in shares of Hello Group by 20.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after purchasing an additional 633,746 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Hello Group by 472.1% during the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 3,196 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Hello Group by 105.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,030 shares of the information services provider’s stock valued at $160,000 after purchasing an additional 10,818 shares in the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

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.