Hello Group (NASDAQ:MOMO) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Hello Group (NASDAQ:MOMO) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

A number of other equities analysts also recently issued reports on MOMO. Citigroup raised their price target on Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Benchmark reaffirmed a “buy” rating and set a $13.00 price target on shares of Hello Group in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.25.

Hello Group Stock Up 2.7 %

Shares of MOMO stock opened at $6.58 on Tuesday. The company has a 50 day moving average price of $7.33 and a 200-day moving average price of $7.12. Hello Group has a 52 week low of $4.79 and a 52 week high of $8.38. The firm has a market capitalization of $953.44 million, a PE ratio of 6.78, a P/E/G ratio of 2.07 and a beta of 0.44.

Hello Group Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Hello Group in the fourth quarter worth about $10,765,000. Assenagon Asset Management S.A. purchased a new stake in Hello Group in the 4th quarter worth $8,616,000. BNP Paribas Financial Markets bought a new position in shares of Hello Group during the 4th quarter valued at about $4,535,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Hello Group during the fourth quarter valued at about $1,789,000. Finally, Millennium Management LLC increased its holdings in shares of Hello Group by 1,590.1% in the fourth quarter. Millennium Management LLC now owns 174,536 shares of the information services provider’s stock worth $1,346,000 after purchasing an additional 164,209 shares during the last quarter. Hedge funds and other 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.