Bank of America Corp DE Trims Stake in Hello Group Inc. (NASDAQ:MOMO)

Bank of America Corp DE reduced its stake in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 56.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,559 shares of the information services provider's stock after selling 172,468 shares during the quarter. Bank of America Corp DE owned 0.09% of Hello Group worth $1,037,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Hello Group during the fourth quarter valued at approximately $35,000. Blue Trust Inc. raised its position in Hello Group by 62.3% during the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock valued at $48,000 after acquiring an additional 2,414 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Hello Group during the fourth quarter valued at approximately $79,000. Quantbot Technologies LP purchased a new position in Hello Group during the fourth quarter valued at approximately $148,000. Finally, Vontobel Holding Ltd. purchased a new position in Hello Group during the fourth quarter valued at approximately $158,000. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Benchmark reissued a "buy" rating and issued a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. Wall Street Zen raised Hello Group from a "hold" rating to a "buy" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $9.00.

Hello Group Price Performance

Shares of NASDAQ:MOMO opened at $7.56 on Friday. The business's 50 day moving average price is $5.92 and its 200-day moving average price is $6.75. The firm has a market capitalization of $910.88 million, a PE ratio of 7.79, a P/E/G ratio of 2.07 and a beta of 0.31. Hello Group Inc. has a 1 year low of $5.12 and a 1 year high of $8.38.

Hello Group Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 11th were given a dividend of $0.30 per share. The ex-dividend date was Friday, April 11th. This represents a yield of 4.18%.

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.

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