Zurcher Kantonalbank Zurich Cantonalbank Sells 10,462 Shares of Hello Group Inc. (NASDAQ:MOMO)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Hello Group Inc. (NASDAQ:MOMO) by 24.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,843 shares of the information services provider’s stock after selling 10,462 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hello Group were worth $228,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MOMO. Qube Research & Technologies Ltd boosted its holdings in shares of Hello Group by 294.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,238,483 shares of the information services provider’s stock worth $8,645,000 after buying an additional 924,447 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Hello Group by 8.7% in the third quarter. Jupiter Asset Management Ltd. now owns 1,085,508 shares of the information services provider’s stock valued at $7,577,000 after acquiring an additional 87,000 shares during the last quarter. Invesco Ltd. grew its position in shares of Hello Group by 1.6% during the 3rd quarter. Invesco Ltd. now owns 10,032,288 shares of the information services provider’s stock valued at $70,025,000 after acquiring an additional 159,342 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Hello Group during the 3rd quarter worth approximately $153,000. Finally, SG Americas Securities LLC bought a new stake in shares of Hello Group in the 4th quarter worth approximately $124,000. 50.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MOMO has been the subject of a number of recent research reports. Benchmark decreased their target price on Hello Group from $22.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 15th. StockNews.com cut Hello Group from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd.

Hello Group Trading Down 0.9 %

Shares of MOMO stock opened at $6.14 on Tuesday. The stock has a market capitalization of $888.96 million, a price-to-earnings ratio of 4.45 and a beta of 0.67. The company’s fifty day simple moving average is $6.15 and its two-hundred day simple moving average is $6.47. Hello Group Inc. has a 1 year low of $5.30 and a 1 year high of $11.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.74 and a quick ratio of 3.74.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings results on Thursday, March 14th. The information services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $422.95 million during the quarter, compared to analysts’ expectations of $447.28 million. Hello Group had a net margin of 16.27% and a return on equity of 17.23%. As a group, analysts anticipate that Hello Group Inc. will post 1.46 earnings per share for the current year.

Hello Group Cuts Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 12th were issued a $0.52 dividend. This represents a dividend yield of 8.97%. The ex-dividend date was Thursday, April 11th.

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.