Hello Group (NASDAQ:MOMO) Lowered to Hold Rating by StockNews.com

Hello Group (NASDAQ:MOMO - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Wednesday.

A number of other research firms also recently issued reports on MOMO. Benchmark reiterated a "buy" rating and issued a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. Citigroup increased their price target on shares of Hello Group from $5.90 to $7.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.25.

Hello Group Trading Down 4.4 %

Shares of MOMO stock traded down $0.27 during midday trading on Wednesday, reaching $5.84. 1,495,146 shares of the stock were exchanged, compared to its average volume of 1,371,292. Hello Group has a 1 year low of $4.79 and a 1 year high of $8.38. The firm has a market cap of $846.21 million, a PE ratio of 6.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33. The company's 50 day moving average is $7.20 and its two-hundred day moving average is $7.13.

Institutional Trading of Hello Group

Several institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. purchased a new position in Hello Group in the fourth quarter worth about $8,616,000. SBI Securities Co. Ltd. purchased a new position in Hello Group in the 4th quarter worth approximately $35,000. Caprock Group LLC lifted its position in Hello Group by 47.3% in the 4th quarter. Caprock Group LLC now owns 35,763 shares of the information services provider's stock valued at $276,000 after acquiring an additional 11,484 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Hello Group by 8.4% during the 4th quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider's stock valued at $169,000 after purchasing an additional 1,690 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Hello Group by 105.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,030 shares of the information services provider's stock worth $160,000 after purchasing an additional 10,818 shares in the last quarter. 50.96% of the stock is owned by hedge funds and other institutional investors.

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.