KBC Group NV Purchases 54,920 Shares of Hello Group Inc. (NASDAQ:MOMO)

KBC Group NV grew its position in shares of Hello Group Inc. (NASDAQ:MOMO) by 439.6% in the third quarter, HoldingsChannel reports. The fund owned 67,412 shares of the information services provider’s stock after acquiring an additional 54,920 shares during the period. KBC Group NV’s holdings in Hello Group were worth $513,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in Hello Group by 24.0% in the first quarter. Janney Montgomery Scott LLC now owns 70,229 shares of the information services provider’s stock valued at $436,000 after purchasing an additional 13,598 shares in the last quarter. Sei Investments Co. raised its stake in shares of Hello Group by 26.3% during the 1st quarter. Sei Investments Co. now owns 448,013 shares of the information services provider’s stock worth $2,782,000 after purchasing an additional 93,238 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Hello Group by 9.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 458,550 shares of the information services provider’s stock valued at $2,889,000 after buying an additional 40,566 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of Hello Group in the first quarter valued at $355,000. Finally, Kathmere Capital Management LLC bought a new position in shares of Hello Group in the 2nd quarter valued at about $74,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Stock Up 1.8 %

MOMO stock opened at $6.84 on Tuesday. Hello Group Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $8.19. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.55 and a quick ratio of 2.55. The stock has a market capitalization of $991.12 million, a price-to-earnings ratio of 6.84, a PEG ratio of 2.05 and a beta of 0.54. The business’s fifty day moving average price is $6.98 and its two-hundred day moving average price is $6.51.

Hello Group (NASDAQ:MOMO) last released its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $2.13. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.67 billion. Hello Group had a net margin of 12.40% and a return on equity of 12.09%. Hello Group’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. On average, equities analysts anticipate that Hello Group Inc. will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MOMO. Jefferies Financial Group raised their target price on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Benchmark decreased their target price on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Bank of America lowered shares of Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.93.

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.