Mitsubishi UFJ Trust & Banking Corp Sells 48,449 Shares of Hello Group Inc. (NASDAQ:MOMO)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Hello Group Inc. (NASDAQ:MOMO - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,849 shares of the information services provider's stock after selling 48,449 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of Hello Group worth $1,171,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MOMO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Hello Group by 105.9% during 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 acquiring an additional 10,818 shares during the last quarter. Polymer Capital Management HK LTD acquired a new stake in shares of Hello Group during the third quarter valued at about $894,000. Quadrature Capital Ltd boosted its stake in shares of Hello Group by 40.2% during the third quarter. Quadrature Capital Ltd now owns 69,492 shares of the information services provider's stock valued at $528,000 after purchasing an additional 19,909 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Hello Group by 95.1% during the third quarter. XTX Topco Ltd now owns 52,720 shares of the information services provider's stock worth $401,000 after purchasing an additional 25,700 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Hello Group in the third quarter valued at approximately $1,013,000. Institutional investors and hedge funds own 50.96% of the company's stock.

Hello Group Stock Down 4.4 %

NASDAQ:MOMO traded down $0.27 during trading hours on Friday, reaching $5.84. The company had a trading volume of 1,495,146 shares, compared to its average volume of 1,371,292. Hello Group Inc. has a twelve month low of $4.79 and a twelve month high of $8.38. The firm has a market cap of $846.21 million, a price-to-earnings ratio of 6.02, a P/E/G ratio of 2.07 and a beta of 0.33. The business's 50-day simple moving average is $7.20 and its two-hundred day simple moving average is $7.13.

Hello Group Cuts Dividend

The firm 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 $0.30 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a dividend yield of 4.18%.

Wall Street Analysts Forecast Growth

MOMO has been the topic of a number of research reports. Citigroup boosted their target price on shares of Hello Group from $5.90 to $7.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Benchmark reissued a "buy" rating and issued a $13.00 price objective on shares of Hello Group in a research note on Thursday, March 13th. Finally, StockNews.com downgraded Hello Group from a "buy" rating to a "hold" rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.