Hello Group Inc. (NASDAQ:MOMO) Receives $8.25 Consensus Target Price from Brokerages

Hello Group Inc. (NASDAQ:MOMO) has received an average recommendation of “Hold” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $8.25.

A number of analysts have recently commented on the company. Benchmark restated a “buy” rating and issued a $13.00 target price 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 note on Tuesday, May 13th.

Institutional Trading of Hello Group

Several institutional investors have recently bought and sold shares of MOMO. Norges Bank acquired a new stake in Hello Group in the fourth quarter valued at approximately $10,765,000. Causeway Capital Management LLC grew its holdings in Hello Group by 136.2% in the first quarter. Causeway Capital Management LLC now owns 2,089,913 shares of the information services provider’s stock valued at $13,187,000 after purchasing an additional 1,205,166 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Hello Group in the fourth quarter valued at approximately $8,616,000. Tiger Pacific Capital LP acquired a new stake in Hello Group in the first quarter valued at approximately $6,268,000. Finally, BNP Paribas Financial Markets acquired a new stake in Hello Group in the fourth quarter valued at approximately $4,535,000. 50.96% of the stock is owned by institutional investors and hedge funds.

Hello Group Stock Down 0.5%

Shares of MOMO opened at $6.17 on Wednesday. Hello Group has a 52 week low of $4.79 and a 52 week high of $8.38. The company has a market capitalization of $743.40 million, a price-to-earnings ratio of 6.36, a PEG ratio of 2.07 and a beta of 0.24. The stock’s 50-day moving average price is $6.04 and its 200-day moving average price is $6.82.

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.