Hello Group Inc. (NASDAQ:MOMO) Sees Significant Decrease in Short Interest

Hello Group Inc. (NASDAQ:MOMO) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 2,160,000 shares, a drop of 37.8% from the March 31st total of 3,470,000 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is presently 1.7 days.

Analysts Set New Price Targets

MOMO has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $13.00 target price on shares of Hello Group in a report on Thursday, March 13th. StockNews.com raised Hello Group from a “hold” rating to a “buy” rating in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hello Group currently has an average rating of “Hold” and a consensus price target of $8.25.

Hello Group Stock Down 0.4 %

NASDAQ MOMO opened at $5.66 on Tuesday. Hello Group has a twelve month low of $4.79 and a twelve month high of $8.38. The company has a market cap of $681.96 million, a price-to-earnings ratio of 5.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33. The business’s fifty day moving average is $6.49 and its 200 day moving average is $6.90.

Hello Group Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new position in Hello Group during the 4th quarter worth about $8,616,000. SBI Securities Co. Ltd. acquired a new position in Hello Group during the 4th quarter worth about $35,000. Caprock Group LLC lifted its holdings 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 worth $276,000 after buying an additional 11,484 shares during the period. QRG Capital Management Inc. lifted its holdings in Hello Group by 8.4% during the 4th 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 during the period. Finally, Vontobel Holding Ltd. acquired a new position in Hello Group during the 4th quarter worth about $158,000. 50.96% of the stock is owned by institutional investors and hedge funds.

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.