Northern Trust Corp Buys 135,879 Shares of Hello Group Inc. (NASDAQ:MOMO)

Northern Trust Corp raised its position in Hello Group Inc. (NASDAQ:MOMO - Free Report) by 53.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 390,686 shares of the information services provider's stock after buying an additional 135,879 shares during the period. Northern Trust Corp owned 0.27% of Hello Group worth $3,012,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC purchased a new position in Hello Group in the fourth quarter worth $79,000. Marshall Wace LLP bought a new stake in shares of Hello Group during the 4th quarter worth $198,000. NewEdge Advisors LLC grew its position in Hello Group by 122.3% during the fourth quarter. NewEdge Advisors LLC now owns 27,155 shares of the information services provider's stock valued at $209,000 after buying an additional 14,937 shares during the period. Jump Financial LLC purchased a new stake in Hello Group during the fourth quarter worth about $1,124,000. Finally, XTX Topco Ltd increased its holdings in Hello Group by 47.8% during the fourth quarter. XTX Topco Ltd now owns 77,901 shares of the information services provider's stock worth $601,000 after buying an additional 25,181 shares during the last quarter. 50.96% of the stock is owned by institutional investors.

Hello Group Stock Performance

MOMO stock traded down $0.02 on Tuesday, reaching $6.06. The company's stock had a trading volume of 1,378,753 shares, compared to its average volume of 1,293,137. The firm has a market cap of $730.15 million, a PE ratio of 6.25, a PEG ratio of 2.07 and a beta of 0.24. The business has a fifty day simple moving average of $5.93 and a two-hundred day simple moving average of $6.77. Hello Group Inc. has a 12-month low of $4.79 and a 12-month high of $8.38.

Hello Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

MOMO has been the topic of several research reports. Wall Street Zen lowered Hello Group from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Benchmark reissued a "buy" rating and issued a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.25.

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.