Hello Group (NASDAQ:MOMO) Upgraded at StockNews.com

StockNews.com upgraded shares of Hello Group (NASDAQ:MOMO) from a hold rating to a buy rating in a research report released on Tuesday.

Several other research firms have also recently weighed in on MOMO. Citigroup upped their price target on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Benchmark reissued a “buy” rating and set a $13.00 price objective 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 assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.25.

Hello Group Trading Up 2.7 %

Shares of NASDAQ:MOMO opened at $6.58 on Tuesday. The company has a 50 day moving average of $7.33 and a 200 day moving average of $7.12. The stock has a market cap of $953.44 million, a P/E ratio of 6.78, a P/E/G ratio of 2.07 and a beta of 0.44. Hello Group has a 12 month low of $4.79 and a 12 month high of $8.38.

Hello Group Cuts Dividend

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

Institutional Trading of Hello Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new position in shares of Hello Group during the fourth quarter valued at approximately $8,616,000. SBI Securities Co. Ltd. purchased a new position in shares of Hello Group in the 4th quarter worth about $35,000. Caprock Group LLC grew its position in Hello Group by 47.3% during the 4th quarter. Caprock Group LLC now owns 35,763 shares of the information services provider’s stock valued at $276,000 after purchasing an additional 11,484 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Hello Group by 105.9% in 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 worth $160,000 after buying an additional 10,818 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Hello Group by 8.4% in the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock worth $169,000 after buying an additional 1,690 shares in the last quarter. 50.96% of the stock is owned by hedge funds and other institutional investors.

About Hello Group

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.