Hello Group Inc. (NASDAQ:MOMO) Sees Significant Decrease in Short Interest

Hello Group Inc. (NASDAQ:MOMO - Get Free Report) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 2,160,000 shares, a drop of 37.8% from the March 31st total of 3,470,000 shares. Approximately 1.6% of the company's shares are sold short. Based on an average daily volume of 1,270,000 shares, the short-interest ratio is presently 1.7 days.

Hello Group Price Performance

Shares of MOMO opened at $5.66 on Tuesday. The firm has a 50-day moving average of $6.49 and a 200-day moving average of $6.90. Hello Group has a one year low of $4.79 and a one year high of $8.38. The company has a market cap of $681.96 million, a PE ratio of 5.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33.

Hello Group Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 11th will be issued a dividend of $0.30 per share. This represents a dividend yield of 4.18%. The ex-dividend date is Friday, April 11th.

Institutional Trading of Hello Group

Several hedge funds and other institutional investors have recently modified their holdings of MOMO. SBI Securities Co. Ltd. bought a new stake in shares of Hello Group during the 4th quarter worth about $35,000. Blue Trust Inc. boosted its holdings in Hello Group by 62.3% in the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock valued at $48,000 after purchasing an additional 2,414 shares during the period. Hsbc Holdings PLC bought a new stake in Hello Group in the 4th quarter valued at about $79,000. Kathmere Capital Management LLC boosted its holdings in Hello Group by 30.1% in the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider's stock valued at $113,000 after purchasing an additional 3,407 shares during the period. Finally, Vident Advisory LLC boosted its holdings in Hello Group by 34.0% in the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider's stock valued at $122,000 after purchasing an additional 4,009 shares during the period. Institutional investors own 50.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MOMO shares. StockNews.com upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 22nd. Benchmark restated a "buy" rating and set a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Hello Group presently has a consensus rating of "Hold" and a consensus price target of $8.25.

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.

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