Hello Group (NASDAQ:MOMO) Stock Price Up 3.8%

Hello Group Inc. (NASDAQ:MOMO)’s stock price rose 3.8% during mid-day trading on Monday . The stock traded as high as $5.50 and last traded at $5.50. Approximately 814,245 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 2,170,091 shares. The stock had previously closed at $5.30.

Analysts Set New Price Targets

MOMO has been the topic of several research analyst reports. StockNews.com lowered Hello Group from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Benchmark lowered their target price on Hello Group from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.25.

Hello Group Stock Performance

The company has a market cap of $1.02 billion, a P/E ratio of 3.84 and a beta of 0.68. The company has a quick ratio of 3.72, a current ratio of 3.74 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $6.31 and a two-hundred day moving average price of $6.62.

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

Hello Group Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 12th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, April 11th. This represents a yield of 8.97%.

Hedge Funds Weigh In On Hello Group

A number of hedge funds have recently added to or reduced their stakes in MOMO. E Fund Management Hong Kong Co. Ltd. increased its stake in Hello Group by 135.8% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 91,567 shares of the information services provider’s stock worth $510,000 after acquiring an additional 52,742 shares during the period. Advisor Group Holdings Inc. boosted its holdings in shares of Hello Group by 62.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 14,855 shares of the information services provider’s stock valued at $85,000 after purchasing an additional 5,715 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Hello Group by 47.5% in the 1st quarter. American Century Companies Inc. now owns 113,804 shares of the information services provider’s stock valued at $658,000 after purchasing an additional 36,655 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Hello Group by 49.6% in the 1st quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 2,819 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Hello Group by 25.7% in the 1st quarter. BlackRock Inc. now owns 10,989,045 shares of the information services provider’s stock valued at $63,517,000 after purchasing an additional 2,245,152 shares in the last quarter. Institutional investors own 50.96% of the company’s stock.

Hello Group Company Profile

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. 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.