Hello Group (NASDAQ:MOMO) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Hello Group Inc. (NASDAQ:MOMO - Get Free Report) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.80 and traded as low as $6.04. Hello Group shares last traded at $6.10, with a volume of 663,141 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on MOMO. Benchmark restated a "buy" rating and set a $13.00 price target on shares of Hello Group in a research note on Thursday, March 13th. Wall Street Zen cut shares of Hello Group from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Hello Group currently has a consensus rating of "Hold" and a consensus target price of $8.25.

Hello Group Price Performance

The business's 50 day moving average price is $5.93 and its 200-day moving average price is $6.77. The company has a market cap of $719.91 million, a P/E ratio of 6.16, a PEG ratio of 2.07 and a beta of 0.24.

Hello Group Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in Hello Group by 7.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,127,428 shares of the information services provider's stock worth $51,284,000 after purchasing an additional 546,048 shares during the last quarter. Acadian Asset Management LLC raised its position in Hello Group by 5.2% in the 1st quarter. Acadian Asset Management LLC now owns 6,553,834 shares of the information services provider's stock worth $41,330,000 after purchasing an additional 322,603 shares during the last quarter. LSV Asset Management raised its position in Hello Group by 25.4% in the 1st quarter. LSV Asset Management now owns 2,751,975 shares of the information services provider's stock worth $17,365,000 after purchasing an additional 557,777 shares during the last quarter. Causeway Capital Management LLC raised its position in Hello Group by 136.2% in the 1st quarter. Causeway Capital Management LLC now owns 2,089,913 shares of the information services provider's stock worth $13,187,000 after purchasing an additional 1,205,166 shares during the last quarter. Finally, Norges Bank bought a new position in Hello Group in the 4th quarter worth approximately $10,765,000. Institutional investors own 50.96% of the company's stock.

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.