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

Hello Group logo with Computer and Technology background

Bank of America Corp DE lowered its stake in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 56.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 about 0.09% of Hello Group worth $1,037,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Hello Group during the 4th quarter worth $10,765,000. BNP Paribas Financial Markets purchased a new stake in Hello Group during the fourth quarter valued at about $4,535,000. O Shaughnessy Asset Management LLC purchased a new stake in Hello Group during the fourth quarter valued at about $1,789,000. Jump Financial LLC acquired a new stake in Hello Group during the fourth quarter worth about $1,124,000. Finally, Northern Trust Corp raised its holdings 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 worth $3,012,000 after purchasing an additional 135,879 shares during the period. Institutional investors and hedge funds own 50.96% of the company's stock.

Analysts Set New Price Targets

MOMO has been the subject of a number of research reports. Benchmark reiterated a "buy" rating and set a $13.00 target price on shares of Hello Group in a report on Thursday, March 13th. Wall Street Zen raised shares of Hello Group from a "hold" rating to a "buy" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Hello Group presently has an average rating of "Hold" and a consensus target price of $9.00.

Read Our Latest Analysis on Hello Group

Hello Group Price Performance

NASDAQ MOMO traded up $0.01 during trading hours on Tuesday, hitting $8.07. The company had a trading volume of 2,670,311 shares, compared to its average volume of 1,246,744. The firm's 50 day moving average is $5.99 and its 200 day moving average is $6.77. Hello Group Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $8.38. The company has a market capitalization of $972.33 million, a price-to-earnings ratio of 8.32, a P/E/G ratio of 2.07 and a beta of 0.31.

Hello Group Cuts Dividend

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

About Hello Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Hello Group (NASDAQ:MOMO)

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