BNP Paribas Financial Markets Makes New $4.54 Million Investment in Hello Group Inc. (NASDAQ:MOMO)

BNP Paribas Financial Markets bought a new position in shares of Hello Group Inc. (NASDAQ:MOMO) in the fourth quarter, Holdings Channel reports. The fund bought 588,236 shares of the information services provider’s stock, valued at approximately $4,535,000.

A number of other institutional investors also recently modified their holdings of MOMO. AXA S.A. raised its stake in Hello Group by 125.3% in the 4th quarter. AXA S.A. now owns 42,278 shares of the information services provider’s stock worth $326,000 after purchasing an additional 23,516 shares in the last quarter. Hhlr Advisors LTD. bought a new position in shares of Hello Group during the fourth quarter worth approximately $413,000. Northern Trust Corp raised its position in shares of Hello Group by 53.3% in the fourth quarter. Northern Trust Corp now owns 390,686 shares of the information services provider’s stock valued at $3,012,000 after buying an additional 135,879 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Hello Group in the fourth quarter valued at approximately $79,000. Finally, Marshall Wace LLP bought a new stake in shares of Hello Group in the fourth quarter valued at approximately $198,000. Institutional investors own 50.96% of the company’s stock.

Hello Group Price Performance

Shares of NASDAQ:MOMO opened at $6.40 on Wednesday. Hello Group Inc. has a 1 year low of $4.79 and a 1 year high of $8.38. The stock has a market capitalization of $771.12 million, a price-to-earnings ratio of 6.60, a price-to-earnings-growth ratio of 2.07 and a beta of 0.24. The company’s 50 day simple moving average is $6.11 and its 200 day simple moving average is $6.83.

Hello Group Cuts Dividend

The firm also recently announced 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 dividend yield of 4.18%. The ex-dividend date was Friday, April 11th.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MOMO. Benchmark restated a “buy” rating and set a $13.00 price objective on shares of Hello Group in a research note on Thursday, March 13th. StockNews.com downgraded Hello Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.25.

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.