Hello Group’s (MOMO) “Buy” Rating Reaffirmed at Benchmark

Hello Group (NASDAQ:MOMO)‘s stock had its “buy” rating reiterated by investment analysts at Benchmark in a research note issued on Thursday,Benzinga reports. They currently have a $13.00 price target on the information services provider’s stock. Benchmark’s price target suggests a potential upside of 84.14% from the company’s previous close.

Other research analysts also recently issued research reports about the company. StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Citigroup lifted their price target on Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.25.

Hello Group Stock Performance

Shares of NASDAQ MOMO opened at $7.06 on Thursday. Hello Group has a fifty-two week low of $4.79 and a fifty-two week high of $8.38. The firm has a market capitalization of $1.02 billion, a PE ratio of 7.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.44. The stock’s 50-day simple moving average is $7.36 and its 200-day simple moving average is $7.11.

Hedge Funds Weigh In On Hello Group

Institutional investors have recently made changes to their positions in the stock. KBC Group NV grew its position in shares of Hello Group by 439.6% in the third quarter. KBC Group NV now owns 67,412 shares of the information services provider’s stock valued at $513,000 after purchasing an additional 54,920 shares during the period. Caprock Group LLC purchased a new stake in shares of Hello Group in the third quarter worth about $185,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 worth $160,000 after buying an additional 10,818 shares during the period. Polymer Capital Management HK LTD acquired a new position in shares of Hello Group in the third quarter worth about $894,000. Finally, Quadrature Capital Ltd lifted its stake in shares of Hello Group by 40.2% in the third quarter. Quadrature Capital Ltd now owns 69,492 shares of the information services provider’s stock worth $528,000 after acquiring an additional 19,909 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.