Hello Group (NASDAQ:MOMO) Reaches New 52-Week Low – Here’s What Happened

Shares of Hello Group Inc. Sponsored ADR (NASDAQ:MOMO) reached a new 52-week low on Friday . The company traded as low as $5.58 and last traded at $5.5760, with a volume of 285727 shares trading hands. The stock had previously closed at $5.71.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MOMO shares. UBS Group set a $10.00 price target on Hello Group in a research note on Thursday. Weiss Ratings downgraded Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Finally, Benchmark reissued a “buy” rating on shares of Hello Group in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.05.

Hello Group Trading Down 1.8%

The firm has a market cap of $603.47 million, a price-to-earnings ratio of 8.77 and a beta of 0.46. The company has a 50 day moving average of $6.06 and a 200 day moving average of $6.42.

Hello Group Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Thursday, April 30th. Investors of record on Friday, April 10th were paid a dividend of $0.28 per share. This represents a yield of 475.0%. The ex-dividend date of this dividend was Friday, April 10th.

Institutional Trading of Hello Group

Several hedge funds have recently added to or reduced their stakes in MOMO. Goldman Sachs Group Inc. raised its stake in Hello Group by 7.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider’s stock worth $51,284,000 after buying an additional 546,048 shares during the period. Geode Capital Management LLC raised its stake in shares of Hello Group by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 279,901 shares of the information services provider’s stock valued at $2,362,000 after purchasing an additional 10,944 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Hello Group by 111.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 315,918 shares of the information services provider’s stock valued at $2,666,000 after purchasing an additional 166,227 shares during the period. Legal & General Group Plc raised its stake in shares of Hello Group by 31.7% in the 2nd quarter. Legal & General Group Plc now owns 39,861 shares of the information services provider’s stock valued at $336,000 after purchasing an additional 9,597 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Hello Group by 231.1% in the 2nd quarter. Hsbc Holdings PLC now owns 38,864 shares of the information services provider’s stock valued at $329,000 after purchasing an additional 27,125 shares during the period. Institutional investors and hedge funds own 50.96% of the company’s stock.

About Hello Group

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.