Investors Buy Large Volume of Call Options on Hello Group (NASDAQ:MOMO)

Hello Group Inc. (NASDAQ:MOMO) saw some unusual options trading on Thursday. Stock investors acquired 7,730 call options on the company. This represents an increase of approximately 960% compared to the typical volume of 729 call options.

Hello Group Stock Up 0.7 %

Shares of NASDAQ:MOMO opened at $7.49 on Friday. Hello Group has a 52 week low of $4.79 and a 52 week high of $8.19. The company has a 50-day moving average price of $7.01 and a 200 day moving average price of $6.75. The company has a market cap of $1.09 billion, a P/E ratio of 7.72, a PEG ratio of 2.40 and a beta of 0.51.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MOMO shares. StockNews.com upgraded shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Bank of America lowered shares of Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Citigroup increased their target price on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Jefferies Financial Group boosted their price target on Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Benchmark decreased their price objective on 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 investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.25.

Institutional Trading of Hello Group

Several hedge funds have recently modified their holdings of the business. BRIGHT VALLEY CAPITAL Ltd purchased a new position in Hello Group in the second quarter worth $22,553,000. Dimensional Fund Advisors LP grew its stake in shares of Hello Group by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock worth $22,736,000 after purchasing an additional 633,746 shares during the period. Blue Trust Inc. increased its holdings in shares of Hello Group by 472.1% in the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 3,196 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Hello Group by 105.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,030 shares of the information services provider’s stock valued at $160,000 after purchasing an additional 10,818 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Hello Group by 22.6% during the second quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock worth $4,417,000 after buying an additional 133,113 shares in the last quarter. 50.96% of the stock is owned by institutional investors and hedge funds.

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.