Causeway Capital Management LLC Sells 1,057,034 Shares of Hello Group Inc. (NASDAQ:MOMO)

Causeway Capital Management LLC lowered its holdings in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 54.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 884,747 shares of the information services provider's stock after selling 1,057,034 shares during the period. Causeway Capital Management LLC owned 0.61% of Hello Group worth $6,821,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MOMO. XTX Topco Ltd increased its position 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 acquiring an additional 25,181 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Hello Group in the fourth quarter valued at approximately $1,789,000. Norges Bank bought a new stake in shares of Hello Group in the fourth quarter valued at approximately $10,765,000. LPL Financial LLC grew its position in Hello Group by 813.1% during the fourth quarter. LPL Financial LLC now owns 101,277 shares of the information services provider's stock worth $781,000 after buying an additional 90,186 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Hello Group by 4.7% during the 4th quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider's stock worth $7,036,000 after acquiring an additional 40,620 shares during the period. 50.96% of the stock is owned by institutional investors and hedge funds.

Hello Group Stock Performance

Shares of NASDAQ:MOMO traded up $0.21 during mid-day trading on Friday, reaching $5.50. 1,496,107 shares of the company's stock were exchanged, compared to its average volume of 1,350,372. The firm has a market capitalization of $796.94 million, a price-to-earnings ratio of 5.67, a PEG ratio of 2.07 and a beta of 0.33. Hello Group Inc. has a twelve month low of $4.79 and a twelve month high of $8.38. The business's fifty day moving average price is $6.75 and its 200-day moving average price is $6.99.

Hello Group Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a dividend yield of 4.18%.

Analyst Upgrades and Downgrades

MOMO has been the subject of several recent analyst reports. Benchmark restated a "buy" rating and set a $13.00 target price on shares of Hello Group in a research note on Thursday, March 13th. StockNews.com upgraded shares of Hello Group from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $8.25.

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.