Hello Group (NASDAQ:MOMO) Trading Up 6.2% on Strong Earnings

Hello Group Inc. (NASDAQ:MOMOGet Free Report) shares rose 6.2% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $5.14 and last traded at $5.14. Approximately 579,537 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 2,031,293 shares. The stock had previously closed at $4.84.

The information services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.48 billion. Hello Group had a net margin of 13.38% and a return on equity of 13.51%. Hello Group’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS.

Hello Group Cuts Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 12th were issued a $0.52 dividend. This represents a yield of 8.97%. The ex-dividend date was Thursday, April 11th.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com lowered Hello Group from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Morgan Stanley lowered shares of Hello Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, May 15th. Citigroup reduced their target price on Hello Group from $6.40 to $5.70 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Benchmark dropped their price target on Hello Group from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.35.

View Our Latest Stock Report on MOMO

Institutional Investors Weigh In On Hello Group

A number of institutional investors have recently made changes to their positions in MOMO. Acadian Asset Management LLC lifted its stake in Hello Group by 26.4% in the first quarter. Acadian Asset Management LLC now owns 7,377,789 shares of the information services provider’s stock worth $45,781,000 after purchasing an additional 1,538,632 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Hello Group by 994.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,617,308 shares of the information services provider’s stock valued at $10,043,000 after acquiring an additional 1,469,500 shares during the period. Qube Research & Technologies Ltd grew its position in Hello Group by 294.4% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,238,483 shares of the information services provider’s stock worth $8,645,000 after acquiring an additional 924,447 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Hello Group by 188.3% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,001,600 shares of the information services provider’s stock worth $6,961,000 after acquiring an additional 654,200 shares during the last quarter. Finally, LSV Asset Management increased its stake in Hello Group by 33.5% in the 1st quarter. LSV Asset Management now owns 2,277,629 shares of the information services provider’s stock worth $14,144,000 after purchasing an additional 571,840 shares during the period. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Hello Group Stock Up 6.0 %

The stock has a market cap of $819.41 million, a P/E ratio of 5.14, a P/E/G ratio of 0.96 and a beta of 0.67. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.16. The company has a 50-day simple moving average of $5.88 and a two-hundred day simple moving average of $6.33.

Hello Group Company Profile

(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.

Recommended Stories

Receive News & Ratings for Hello Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hello Group and related companies with MarketBeat.com's FREE daily email newsletter.