Hello Group Inc. (NASDAQ:MOMO) Receives Average Recommendation of "Hold" from Analysts

Shares of Hello Group Inc. (NASDAQ:MOMO - Get Free Report) have been given a consensus recommendation of "Hold" by the six analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $8.25.

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Hello Group from a "buy" rating to a "hold" rating in a report on Tuesday. Benchmark reissued a "buy" rating and issued a $13.00 target price on shares of Hello Group in a report on Thursday, March 13th.

Hello Group Stock Up 1.9%

Shares of NASDAQ MOMO opened at $6.40 on Wednesday. The firm's 50-day moving average price is $6.11 and its two-hundred day moving average price is $6.83. Hello Group has a 52-week low of $4.79 and a 52-week high of $8.38. The stock has a market capitalization of $771.12 million, a P/E ratio of 6.60, a P/E/G ratio of 2.07 and a beta of 0.24.

Hello Group Cuts Dividend

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

Institutional Investors Weigh In On Hello Group

Several large investors have recently made changes to their positions in the company. LSV Asset Management increased its stake in shares of Hello Group by 25.4% in the first quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider's stock valued at $17,365,000 after purchasing an additional 557,777 shares during the period. Norges Bank acquired a new stake in shares of Hello Group in the fourth quarter valued at approximately $10,765,000. Assenagon Asset Management S.A. acquired a new stake in shares of Hello Group in the fourth quarter valued at approximately $8,616,000. American Century Companies Inc. boosted its holdings in shares of Hello Group by 4.7% in the fourth 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 in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Hello Group in the fourth quarter valued at approximately $4,535,000. Institutional investors and hedge funds own 50.96% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.