Weiss Ratings Reaffirms Hold (C) Rating for Hello Group (NASDAQ:MOMO)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Hello Group (NASDAQ:MOMO), indicating a cautious approach toward the stock.
• Market consensus for Hello Group is a "Hold" rating, with an average target price of $10.00.
• Institutional investors have increased their stakes in Hello Group, with notable increases from firms like Loomis Sayles & Co. which boosted its holdings by 322.1% in Q2.

Hello Group (NASDAQ:MOMO - Get Free Report)'s stock had its "hold (c)" rating restated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered shares of Hello Group from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hello Group has a consensus rating of "Hold" and an average target price of $10.00.

Hello Group Stock Up 0.6%

MOMO stock opened at $7.28 on Wednesday. The firm has a market cap of $868.21 million, a PE ratio of 8.18 and a beta of 0.23. The business has a 50 day moving average of $7.87 and a 200-day moving average of $7.31. Hello Group has a 12-month low of $5.12 and a 12-month high of $9.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Hello Group in the 2nd quarter worth approximately $41,000. Loomis Sayles & Co. L P boosted its holdings in Hello Group by 322.1% in the 2nd quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider's stock worth $45,000 after buying an additional 4,113 shares during the period. Summit Securities Group LLC bought a new position in Hello Group in the 1st quarter worth approximately $56,000. Nomura Holdings Inc. bought a new position in Hello Group in the 1st quarter worth approximately $63,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Hello Group in the 2nd quarter worth approximately $85,000. 50.96% of the stock is owned by institutional investors.

Hello Group Company 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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