Hello Group (NASDAQ:MOMO) Rating Increased to Hold at StockNews.com

Hello Group (NASDAQ:MOMO) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

MOMO has been the topic of a number of other reports. JPMorgan Chase & Co. lowered Hello Group from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $6.00 in a report on Monday, June 3rd. Benchmark lowered their price target on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group increased their price target on Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup decreased their target price on Hello Group from $6.40 to $5.70 and set a “neutral” rating on the stock in a research report on Wednesday, May 29th. Finally, Morgan Stanley downgraded Hello Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Hello Group presently has an average rating of “Hold” and a consensus price target of $7.93.

Hello Group Trading Down 3.0 %

Shares of Hello Group stock traded down $0.19 on Wednesday, reaching $6.20. The company had a trading volume of 1,091,974 shares, compared to its average volume of 1,838,915. The firm’s 50-day moving average price is $6.60 and its two-hundred day moving average price is $6.23. Hello Group has a 1 year low of $4.79 and a 1 year high of $8.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a market cap of $898.37 million, a price-to-earnings ratio of 5.64, a P/E/G ratio of 1.98 and a beta of 0.51.

Hello Group (NASDAQ:MOMO) last issued its earnings results on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $2.13. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.67 billion. Hello Group had a return on equity of 13.61% and a net margin of 13.38%. Hello Group’s revenue was down 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. As a group, research analysts predict that Hello Group will post 0.75 earnings per share for the current fiscal year.

Institutional Trading of Hello Group

Several hedge funds and other institutional investors have recently made changes to their positions in MOMO. Goldman Sachs Group Inc. lifted its holdings in shares of Hello Group by 14.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,274,996 shares of the information services provider’s stock worth $29,711,000 after acquiring an additional 555,602 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in Hello Group by 994.2% in the first quarter. Jupiter Asset Management Ltd. now owns 1,617,308 shares of the information services provider’s stock worth $10,043,000 after purchasing an additional 1,469,500 shares during the period. Trexquant Investment LP boosted its holdings in Hello Group by 177.9% in the fourth quarter. Trexquant Investment LP now owns 286,566 shares of the information services provider’s stock worth $1,992,000 after purchasing an additional 183,430 shares during the period. Sei Investments Co. boosted its holdings in shares of Hello Group by 26.3% during the first quarter. Sei Investments Co. now owns 448,013 shares of the information services provider’s stock valued at $2,782,000 after acquiring an additional 93,238 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Hello Group by 33.5% during the first quarter. LSV Asset Management now owns 2,277,629 shares of the information services provider’s stock valued at $14,144,000 after acquiring an additional 571,840 shares during the period. 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.