StockNews.com Upgrades Hello Group (NASDAQ:MOMO) to Buy

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

Separately, Benchmark reissued a “buy” rating and set a $13.00 price objective on shares of Hello Group in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Hello Group has an average rating of “Hold” and an average price target of $8.25.

Hello Group Price Performance

Shares of NASDAQ:MOMO opened at $5.27 on Friday. Hello Group has a 12 month low of $4.79 and a 12 month high of $8.38. The firm has a market capitalization of $763.62 million, a P/E ratio of 5.43, a P/E/G ratio of 2.07 and a beta of 0.33. The company’s fifty day moving average price is $6.95 and its 200 day moving average price is $7.06.

Hello Group Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th will be issued a $0.30 dividend. The ex-dividend date is Friday, April 11th. This represents a yield of 4.18%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Hello Group during the 4th quarter worth $10,765,000. Assenagon Asset Management S.A. purchased a new stake in Hello Group during the fourth quarter valued at about $8,616,000. American Century Companies Inc. increased its stake in Hello Group by 4.7% during the fourth quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider’s stock worth $7,036,000 after acquiring an additional 40,620 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Hello Group in the 4th quarter worth about $4,535,000. Finally, Northern Trust Corp lifted its stake in shares of Hello Group by 53.3% in the 4th quarter. Northern Trust Corp now owns 390,686 shares of the information services provider’s stock valued at $3,012,000 after purchasing an additional 135,879 shares in the last quarter. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

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.