Hello Group Inc. (NASDAQ:MOMO) Given Consensus Recommendation of “Hold” by Brokerages

Hello Group Inc. (NASDAQ:MOMO) has earned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $8.25.

MOMO has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Bank of America cut shares of Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th.

Hedge Funds Weigh In On Hello Group

A number of institutional investors have recently added to or reduced their stakes in the stock. First Beijing Investment Ltd bought a new stake in shares of Hello Group during the third quarter worth $30,773,000. Assenagon Asset Management S.A. acquired a new stake in shares of Hello Group during the 4th quarter valued at $8,616,000. Public Employees Retirement System of Ohio bought a new stake in Hello Group during the 3rd quarter worth $1,013,000. Polymer Capital Management HK LTD acquired a new position in Hello Group in the 3rd quarter worth about $894,000. Finally, KBC Group NV raised its position in 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 last quarter. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Stock Up 0.7 %

MOMO stock opened at $7.42 on Monday. Hello Group has a 52 week low of $4.79 and a 52 week high of $8.19. The business has a 50-day simple moving average of $7.21 and a 200 day simple moving average of $6.96. The company has a market cap of $1.08 billion, a PE ratio of 7.65, a price-to-earnings-growth ratio of 1.84 and a beta of 0.47.

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.