Vanguard Group Inc. Reduces Stock Position in Hello Group Inc. (NASDAQ:MOMO)

Vanguard Group Inc. lowered its position in shares of Hello Group Inc. (NASDAQ:MOMO - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,288,053 shares of the information services provider's stock after selling 157,215 shares during the quarter. Vanguard Group Inc. owned 3.65% of Hello Group worth $40,771,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Hello Group in the fourth quarter valued at about $35,000. Blue Trust Inc. raised its stake in shares of Hello Group by 62.3% during the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider's stock worth $48,000 after buying an additional 2,414 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of Hello Group by 30.1% in the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider's stock valued at $113,000 after buying an additional 3,407 shares during the period. Tidal Investments LLC purchased a new stake in shares of Hello Group in the third quarter valued at approximately $138,000. Finally, Quantbot Technologies LP purchased a new position in Hello Group in the fourth quarter worth $148,000. Institutional investors and hedge funds own 50.96% of the company's stock.

Wall Street Analyst Weigh In

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

Hello Group Stock Performance

NASDAQ:MOMO traded up $0.09 during mid-day trading on Thursday, hitting $5.38. 135,314 shares of the company's stock traded hands, compared to its average volume of 1,220,756. Hello Group Inc. has a 1 year low of $4.79 and a 1 year high of $8.38. The company has a market cap of $780.14 million, a PE ratio of 5.54, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33. The firm's 50 day simple moving average is $6.83 and its 200 day simple moving average is $7.02.

Hello Group Cuts Dividend

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

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.