Hello Group Inc. (NASDAQ:MOMO) Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Posted by Defense World Staff on Jun 5th, 2023

Banco Bilbao Vizcaya Argentaria S.A. decreased its position in shares of Hello Group Inc. (NASDAQ:MOMO – Get Rating) by 39.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,999 shares of the information services provider’s stock after selling 9,596 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Hello Group were worth $134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Hello Group in the 1st quarter valued at $32,000. US Bancorp DE lifted its holdings in Hello Group by 49.6% in the 1st quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 2,819 shares in the last quarter. Creative Planning purchased a new position in Hello Group in the 2nd quarter valued at $52,000. Prelude Capital Management LLC purchased a new position in Hello Group in the 3rd quarter valued at $63,000. Finally, Wetherby Asset Management Inc. purchased a new position in Hello Group in the 1st quarter valued at $66,000. Institutional investors and hedge funds own 60.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MOMO. StockNews.com upgraded Hello Group from a “hold” rating to a “buy” rating in a report on Monday, May 29th. JPMorgan Chase & Co. upgraded Hello Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $5.00 to $13.00 in a report on Friday, April 14th. TheStreet upgraded Hello Group from a “d+” rating to a “c-” rating in a report on Thursday, March 30th. Morgan Stanley lowered Hello Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $9.00 to $12.00 in a report on Thursday, February 16th. Finally, UBS Group upgraded Hello Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $4.80 to $12.50 in a report on Thursday, April 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.90.

Hello Group Price Performance

NASDAQ MOMO opened at $8.88 on Monday. The company has a market cap of $1.75 billion, a P/E ratio of 8.15 and a beta of 0.88. The stock has a 50-day moving average of $8.54 and a two-hundred day moving average of $8.65. Hello Group Inc. has a 1-year low of $4.09 and a 1-year high of $11.54.

Hello Group (NASDAQ:MOMO – Get Rating) last released its earnings results on Thursday, March 16th. The information services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.12. Hello Group had a return on equity of 14.00% and a net margin of 11.61%. The company had revenue of $465.79 million during the quarter, compared to the consensus estimate of $462.50 million. On average, analysts anticipate that Hello Group Inc. will post 1.27 EPS for the current fiscal year.

Hello Group Increases Dividend

The business also recently disclosed a — dividend, which was paid on Monday, May 22nd. Stockholders of record on Friday, April 28th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, April 27th. This is an increase from Hello Group’s previous — dividend of $0.62.

Hello Group Profile

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Hello Group, Inc operates as a mobile-based social networking platform. It operates under the following segments: Momo’s service lines, Tantan’s service lines, and QOOL’s service line. The company was founded by Yan Tang, Yong Li, Xiao Liang Lei and Zhiwei Li in July 2011 and is headquartered in Beijing, China.