Mercer Global Advisors Inc. ADV Raises Stock Holdings in Hello Group Inc. (NASDAQ:MOMO)

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Hello Group Inc. (NASDAQ:MOMO – Get Rating) by 16.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,990 shares of the information services provider’s stock after acquiring an additional 5,858 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Hello Group were worth $368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. US Bancorp DE increased its position in shares of Hello Group by 49.6% during the first quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 2,819 shares during the last quarter. Cetera Investment Advisers increased its position in Hello Group by 5.4% in the first quarter. Cetera Investment Advisers now owns 56,450 shares of the information services provider’s stock worth $326,000 after buying an additional 2,900 shares during the last quarter. Fox Run Management L.L.C. increased its position in Hello Group by 17.8% in the third quarter. Fox Run Management L.L.C. now owns 19,945 shares of the information services provider’s stock worth $92,000 after buying an additional 3,013 shares during the last quarter. North Star Investment Management Corp. increased its position in Hello Group by 42.4% in the fourth quarter. North Star Investment Management Corp. now owns 12,100 shares of the information services provider’s stock worth $109,000 after buying an additional 3,600 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Hello Group by 3.1% in the third quarter. Bank of New York Mellon Corp now owns 121,829 shares of the information services provider’s stock worth $563,000 after buying an additional 3,632 shares during the last quarter. 60.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MOMO shares. JPMorgan Chase & Co. raised Hello Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $5.00 to $13.00 in a research report on Friday, April 14th. TheStreet raised Hello Group from a “d+” rating to a “c-” rating in a research report on Thursday, March 30th. UBS Group raised Hello Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $4.80 to $12.50 in a research report on Thursday, April 27th. StockNews.com downgraded Hello Group from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Finally, Morgan Stanley cut Hello Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $9.00 to $12.00 in a research report on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.90.

Hello Group Stock Performance

Shares of NASDAQ MOMO opened at $8.51 on Wednesday. The stock has a market cap of $1.68 billion, a PE ratio of 7.81 and a beta of 0.91. Hello Group Inc. has a fifty-two week low of $4.09 and a fifty-two week high of $11.54. The stock has a fifty day moving average of $8.52 and a 200-day moving average of $8.48.

Hello Group (NASDAQ:MOMO – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The information services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.12. The company had revenue of $465.79 million during the quarter, compared to analyst estimates of $462.50 million. Hello Group had a return on equity of 14.00% and a net margin of 11.61%. On average, sell-side analysts predict that Hello Group Inc. will post 1.27 EPS for the current year.

Hello Group Increases Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, May 22nd. Investors of record on Friday, April 28th were paid a dividend of $0.70 per share. This is a positive change from Hello Group’s previous — dividend of $0.62. The ex-dividend date of this dividend was Thursday, April 27th.

Hello Group Company Profile

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Hello Group, Inc operates as a mobile-based social networking platform. It operates under the following segments: Momo’s service lines, Tantan’s service lines, and QOOL’s service line. The company was founded by Yan Tang, Yong Li, Xiao Liang Lei and Zhiwei Li in July 2011 and is headquartered in Beijing, China.