Millennium Management LLC Buys 164,209 Shares of Hello Group Inc. (NASDAQ:MOMO)

Millennium Management LLC raised its position in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 1,590.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 174,536 shares of the information services provider's stock after purchasing an additional 164,209 shares during the quarter. Millennium Management LLC owned 0.12% of Hello Group worth $1,346,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MOMO. Norges Bank acquired a new position in shares of Hello Group in the fourth quarter worth $10,765,000. BNP Paribas Financial Markets acquired a new position in shares of Hello Group in the fourth quarter worth $4,535,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Hello Group in the fourth quarter worth $1,789,000. Jump Financial LLC acquired a new position in shares of Hello Group in the fourth quarter worth $1,124,000. Finally, Northern Trust Corp increased its position in Hello Group by 53.3% during the fourth quarter. Northern Trust Corp now owns 390,686 shares of the information services provider's stock worth $3,012,000 after buying an additional 135,879 shares during the last quarter. 50.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MOMO has been the topic of several analyst reports. Benchmark reissued a "buy" rating and set a $13.00 target price on shares of Hello Group in a research 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $9.00.

Hello Group Stock Performance

Shares of NASDAQ MOMO traded up $0.50 during mid-day trading on Friday, hitting $7.56. 2,465,933 shares of the stock were exchanged, compared to its average volume of 1,218,701. The company has a market cap of $910.88 million, a P/E ratio of 7.79, a PEG ratio of 2.07 and a beta of 0.31. The stock's fifty day simple moving average is $5.92 and its two-hundred day simple moving average is $6.75. Hello Group Inc. has a twelve month low of $5.12 and a twelve month high of $8.38.

Hello Group Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, April 30th. Shareholders 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 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.