Hello Group Inc. (NASDAQ:MOMO – Get Free Report)’s stock price traded down 3.6% during trading on Wednesday after Benchmark lowered their price target on the stock from $15.00 to $13.00. Benchmark currently has a buy rating on the stock. Hello Group traded as low as $6.16 and last traded at $6.16. 346,356 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,834,529 shares. The stock had previously closed at $6.39.
A number of other brokerages also recently commented on MOMO. Citigroup decreased their target price on Hello Group from $6.40 to $5.70 and set a “neutral” rating for the company in a research note on Wednesday, May 29th. Morgan Stanley lowered Hello Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. downgraded shares of Hello Group from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $13.00 to $6.00 in a report on Monday, June 3rd. Jefferies Financial Group increased their price objective on shares of Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, StockNews.com downgraded shares of Hello Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.93.
Institutional Investors Weigh In On Hello Group
A number of hedge funds and other institutional investors have recently modified their holdings of MOMO. BRIGHT VALLEY CAPITAL Ltd acquired a new position in Hello Group during the 2nd quarter valued at about $22,553,000. Acadian Asset Management LLC raised its holdings in Hello Group by 26.4% during 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 in the last quarter. Jupiter Asset Management Ltd. lifted its position in Hello Group by 994.2% in the first quarter. Jupiter Asset Management Ltd. now owns 1,617,308 shares of the information services provider’s stock worth $10,043,000 after purchasing an additional 1,469,500 shares during the period. Polunin Capital Partners Ltd bought a new position in Hello Group during the 2nd quarter valued at $4,566,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of 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 valued at $6,961,000 after purchasing an additional 654,200 shares during the period. 50.96% of the stock is currently owned by institutional investors.
Hello Group Stock Down 3.0 %
The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.36 and a current ratio of 2.36. The company has a market cap of $898.37 million, a P/E ratio of 5.64, a P/E/G ratio of 1.98 and a beta of 0.51. The stock has a 50 day moving average price of $6.60 and a 200 day moving average price of $6.23.
Hello Group (NASDAQ:MOMO – Get Free Report) last issued its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $0.25 by $2.13. Hello Group had a net margin of 13.38% and a return on equity of 13.61%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the business earned $0.39 earnings per share. Hello Group’s revenue for the quarter was down 14.2% compared to the same quarter last year. Research analysts expect that Hello Group Inc. will post 0.75 earnings per share for the current fiscal year.
About Hello Group
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.