Hello Group (NASDAQ:MOMO) Shares Gap Down – Here’s What Happened

by · The Markets Daily

Hello Group Inc. (NASDAQ:MOMO – Get Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $5.53, but opened at $5.30. Hello Group shares last traded at $5.29, with a volume of 153,762 shares.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MOMO shares. StockNews.com downgraded shares of Hello Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Benchmark restated a “buy” rating and set a $13.00 price objective on shares of Hello Group in a report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.25.

Get Our Latest Research Report on MOMO

Hello Group Stock Performance

The firm has a market capitalization of $742.61 million, a price-to-earnings ratio of 5.32, a price-to-earnings-growth ratio of 2.07 and a beta of 0.33. The company’s fifty day moving average price is $6.99 and its 200 day moving average price is $7.07.

Hello Group Cuts Dividend

The business also recently declared 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. This represents a dividend yield of 4.18%. The ex-dividend date is Friday, April 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vident Advisory LLC increased its position in Hello Group by 34.0% in the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock valued at $122,000 after acquiring an additional 4,009 shares during the period. Millennium Management LLC increased its stake in Hello Group by 1,590.1% during the 4th quarter. Millennium Management LLC now owns 174,536 shares of the information services provider’s stock valued at $1,346,000 after buying an additional 164,209 shares during the period. Cetera Investment Advisers raised its position in shares of Hello Group by 3.6% during the 4th quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider’s stock worth $500,000 after buying an additional 2,280 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Hello Group in the 4th quarter worth approximately $4,535,000. Finally, AXA S.A. boosted its holdings in shares of Hello Group by 125.3% in the fourth quarter. AXA S.A. now owns 42,278 shares of the information services provider’s stock valued at $326,000 after acquiring an additional 23,516 shares in the last quarter. 50.96% of the stock is owned by institutional investors and hedge funds.

About Hello Group

(Get Free Report)

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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