JPMorgan Chase & Co. Has $58,000 Holdings in Hello Group Inc. (NASDAQ:MOMO)

JPMorgan Chase & Co. lessened its stake in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 88.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,502 shares of the information services provider's stock after selling 60,265 shares during the quarter. JPMorgan Chase & Co.'s holdings in Hello Group were worth $58,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in Hello Group during the fourth quarter worth about $35,000. Blue Trust Inc. boosted its holdings in shares of Hello Group by 62.3% in the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock worth $48,000 after acquiring an additional 2,414 shares in the last quarter. Kathmere Capital Management LLC grew its position in Hello Group by 30.1% during the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider's stock worth $113,000 after acquiring an additional 3,407 shares during the last quarter. Tidal Investments LLC acquired a new stake in Hello Group during the 3rd quarter valued at $138,000. Finally, Quantbot Technologies LP bought a new position in Hello Group in the 4th quarter valued at $148,000. Institutional investors and hedge funds own 50.96% of the company's stock.

Hello Group Trading Up 3.7 %

NASDAQ MOMO opened at $6.10 on Wednesday. The firm has a market capitalization of $734.37 million, a P/E ratio of 6.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.24. The firm's fifty day moving average price is $6.24 and its two-hundred day moving average price is $6.86. Hello Group Inc. has a 1 year low of $4.79 and a 1 year high of $8.38.

Hello Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MOMO. Benchmark reissued a "buy" rating and set a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. StockNews.com raised shares of Hello Group from a "hold" rating to a "buy" rating in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.

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