Hello Group (NASDAQ:MOMO) Cut to “Hold” at StockNews.com

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

Separately, Benchmark restated a “buy” rating and issued a $13.00 target price on shares of Hello Group in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Down 3.1%

Shares of MOMO opened at $6.20 on Tuesday. Hello Group has a 52 week low of $4.79 and a 52 week high of $8.38. The company has a market capitalization of $747.02 million, a price-to-earnings ratio of 6.39, a PEG ratio of 2.07 and a beta of 0.24. The stock’s 50-day moving average price is $6.07 and its 200-day moving average price is $6.83.

Hello Group Cuts Dividend

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

Hedge Funds Weigh In On Hello Group

A number of hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in shares of Hello Group by 8.4% during the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock valued at $169,000 after acquiring an additional 1,690 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Hello Group by 3.6% during the fourth quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider’s stock valued at $500,000 after acquiring an additional 2,280 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Hello Group by 62.3% during the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 2,414 shares during the last quarter. US Bancorp DE raised its holdings in shares of Hello Group by 3.9% during the first quarter. US Bancorp DE now owns 78,397 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 2,978 shares during the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in shares of Hello Group by 30.1% during the fourth quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 3,407 shares during the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

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.