Hello Group Inc. (NASDAQ:MOMO) Shares Bought by Northern Trust Corp

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

Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Hello Group in the 4th quarter worth approximately $35,000. Blue Trust Inc. boosted its holdings in shares of Hello Group by 62.3% in the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock worth $48,000 after purchasing an additional 2,414 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Hello Group in the 4th quarter worth approximately $79,000. Quantbot Technologies LP purchased a new position in shares of Hello Group in the 4th quarter worth approximately $148,000. Finally, Vontobel Holding Ltd. purchased a new position in shares of Hello Group in the 4th quarter worth approximately $158,000. Institutional investors own 50.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MOMO. Wall Street Zen cut Hello Group from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Benchmark restated a "buy" rating and set 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 given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Hello Group has an average rating of "Hold" and an average price target of $8.25.

Hello Group Stock Performance

MOMO traded down $0.09 on Wednesday, hitting $5.98. The company had a trading volume of 224,641 shares, compared to its average volume of 1,288,949. The stock has a fifty day moving average price of $5.92 and a 200-day moving average price of $6.77. Hello Group Inc. has a 12-month low of $4.79 and a 12-month high of $8.38. The stock has a market capitalization of $719.91 million, a price-to-earnings ratio of 6.16, a P/E/G ratio of 2.07 and a beta of 0.24.

Hello Group Cuts Dividend

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

Hello Group 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.