Hsbc Holdings PLC Takes Position in Hello Group Inc. (NASDAQ:MOMO)

Hsbc Holdings PLC acquired a new stake in shares of Hello Group Inc. (NASDAQ:MOMO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,211 shares of the information services provider’s stock, valued at approximately $79,000.

A number of other hedge funds also recently made changes to their positions in MOMO. Tidal Investments LLC purchased a new stake in shares of Hello Group during the third quarter valued at approximately $138,000. Harbour Capital Advisors LLC raised its stake in shares of Hello Group by 86.9% during the fourth quarter. Harbour Capital Advisors LLC now owns 90,085 shares of the information services provider’s stock valued at $647,000 after purchasing an additional 41,875 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Hello Group during the fourth quarter valued at approximately $8,616,000. Kathmere Capital Management LLC raised its stake in shares of Hello Group by 30.1% during the fourth quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 3,407 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Hello Group by 86.3% during the fourth quarter. SG Americas Securities LLC now owns 30,676 shares of the information services provider’s stock worth $237,000 after buying an additional 14,211 shares in the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MOMO. StockNews.com raised shares of Hello Group from a “hold” rating to a “buy” rating in a research report on Tuesday, April 22nd. Benchmark reissued a “buy” rating and set a $13.00 price target on shares of Hello Group in a research report on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Hello Group currently has a consensus rating of “Hold” and an average target price of $8.25.

Hello Group Price Performance

Hello Group stock opened at $6.28 on Tuesday. The company has a market cap of $756.66 million, a PE ratio of 6.47, a P/E/G ratio of 2.07 and a beta of 0.24. The company has a fifty day moving average price of $6.14 and a two-hundred day moving average price of $6.84. Hello Group Inc. has a 12 month low of $4.79 and a 12 month high of $8.38.

Hello Group Cuts Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th were issued a $0.30 dividend. This represents a yield of 4.18%. The ex-dividend date of this dividend was Friday, April 11th.

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.