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

StockNews.com upgraded shares of Hello Group (NASDAQ:MOMO) from a sell rating to a hold rating in a research report report published on Wednesday.

Several other research firms have also weighed in on MOMO. Jefferies Financial Group increased their price target on shares of Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America lowered shares of Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Finally, Benchmark reduced their price target on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Hello Group currently has a consensus rating of “Hold” and an average target price of $7.93.

Hello Group Stock Performance

Shares of MOMO stock opened at $6.64 on Wednesday. The firm has a 50-day moving average of $7.00 and a 200-day moving average of $6.53. The company has a market cap of $962.14 million, a P/E ratio of 6.32, a P/E/G ratio of 1.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.55 and a quick ratio of 2.55. Hello Group has a one year low of $4.79 and a one year high of $8.19.

Hello Group (NASDAQ:MOMO) last announced its earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $0.25 by $2.13. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.67 billion. Hello Group had a net margin of 12.40% and a return on equity of 12.09%. The firm’s revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. Equities research analysts forecast that Hello Group will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Hello Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BRIGHT VALLEY CAPITAL Ltd bought a new position in Hello Group during the second quarter worth about $22,553,000. Dimensional Fund Advisors LP boosted its position in shares of Hello Group by 20.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after acquiring an additional 633,746 shares during the period. Blue Trust Inc. boosted its position in shares of Hello Group by 472.1% in the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 3,196 shares during the period. American Century Companies Inc. boosted its position in shares of Hello Group by 22.6% in the second quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock valued at $4,417,000 after acquiring an additional 133,113 shares during the period. Finally, Caxton Associates LP bought a new position in shares of Hello Group in the second quarter valued at approximately $2,628,000. 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. 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.