D. E. Shaw & Co. Inc. Sells 56,540 Shares of Hello Group Inc. (NASDAQ:MOMO)

D. E. Shaw & Co. Inc. reduced its position in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 23.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,257 shares of the information services provider's stock after selling 56,540 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.13% of Hello Group worth $1,451,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Norges Bank acquired a new position in Hello Group during the fourth quarter worth $10,765,000. American Century Companies Inc. grew its holdings in shares of Hello Group by 4.7% during the 4th quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider's stock worth $7,036,000 after purchasing an additional 40,620 shares during the period. BNP Paribas Financial Markets purchased a new stake in Hello Group during the 4th quarter worth $4,535,000. Northern Trust Corp grew its stake in shares of Hello Group by 53.3% in the fourth quarter. Northern Trust Corp now owns 390,686 shares of the information services provider's stock valued at $3,012,000 after buying an additional 135,879 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Hello Group during the fourth quarter valued at approximately $1,789,000. 50.96% of the stock is owned by hedge funds and other institutional investors.

Hello Group Price Performance

Shares of MOMO stock traded down $0.05 on Wednesday, hitting $6.02. The company's stock had a trading volume of 48,312 shares, compared to its average volume of 1,288,236. The stock has a market capitalization of $724.73 million, a price-to-earnings ratio of 6.20, a P/E/G ratio of 2.07 and a beta of 0.24. The firm's fifty day moving average price is $5.92 and its 200-day moving average price is $6.77. Hello Group Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $8.38.

Hello Group Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Hello Group from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Benchmark reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8.25.

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.