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

Northern Trust Corp lifted its stake in Hello Group Inc. (NASDAQ:MOMO - Free Report) by 53.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,686 shares of the information services provider's stock after purchasing an additional 135,879 shares during the quarter. Northern Trust Corp owned about 0.27% of Hello Group worth $3,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Hello Group during the 4th quarter valued at about $10,765,000. American Century Companies Inc. grew its position in Hello Group by 4.7% in the 4th quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider's stock valued at $7,036,000 after acquiring an additional 40,620 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Hello Group during the 4th quarter valued at about $1,789,000. Jump Financial LLC purchased a new stake in shares of Hello Group in the 4th quarter worth $1,124,000. Finally, LPL Financial LLC raised its holdings in shares of Hello Group by 813.1% in the 4th quarter. LPL Financial LLC now owns 101,277 shares of the information services provider's stock valued at $781,000 after purchasing an additional 90,186 shares in the last quarter. 50.96% of the stock is currently owned by institutional investors.

Hello Group Stock Performance

MOMO stock traded up $0.14 during trading on Thursday, reaching $6.13. 675,565 shares of the company were exchanged, compared to its average volume of 1,245,012. The company has a market cap of $738.59 million, a P/E ratio of 6.32, a PEG ratio of 2.07 and a beta of 0.24. The stock's 50 day moving average price is $5.90 and its 200 day moving average price is $6.76. Hello Group Inc. has a 52-week low of $5.12 and a 52-week high of $8.38.

Hello Group Cuts Dividend

The company also recently announced 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 was Friday, April 11th. This represents a dividend yield of 4.18%.

Analysts Set New Price Targets

Several equities analysts recently commented on MOMO shares. Wall Street Zen lowered shares of Hello Group from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Benchmark reiterated a "buy" rating and issued a $13.00 price objective on shares of Hello Group in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.