Hello Group (NASDAQ:MOMO) Shares Gap Down to $8.79

Posted by on Jun 9th, 2023

Hello Group Inc. (NASDAQ:MOMO – Get Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $8.79, but opened at $8.56. Hello Group shares last traded at $8.77, with a volume of 284,075 shares.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com raised Hello Group from a “hold” rating to a “buy” rating in a report on Monday, May 29th. UBS Group raised Hello Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.80 to $12.50 in a report on Thursday, April 27th. Benchmark increased their price target on Hello Group from $21.00 to $22.00 in a report on Wednesday. TheStreet upgraded Hello Group from a “c-” rating to a “b-” rating in a report on Monday. Finally, Morgan Stanley lowered Hello Group from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $9.00 to $12.00 in a report on Thursday, February 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Hello Group has a consensus rating of “Moderate Buy” and an average price target of $13.30.

Hello Group Trading Up 3.8 %

The company has a 50-day simple moving average of $8.56 and a 200 day simple moving average of $8.70. The company has a market cap of $1.85 billion, a P/E ratio of 8.14 and a beta of 0.88.

Hello Group (NASDAQ:MOMO – Get Rating) last announced its quarterly earnings data on Thursday, March 16th. The information services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.18 by $0.12. The company had revenue of $465.79 million for the quarter, compared to the consensus estimate of $462.50 million. Hello Group had a return on equity of 14.91% and a net margin of 12.78%. On average, equities analysts forecast that Hello Group Inc. will post 1.27 EPS for the current fiscal year.

Hello Group Increases Dividend

The company also recently declared 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. This is an increase from Hello Group’s previous — dividend of $0.62. The ex-dividend date of this dividend was Thursday, April 27th.

Hedge Funds Weigh In On Hello Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MOMO. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Hello Group by 135.8% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 91,567 shares of the information services provider’s stock worth $510,000 after buying an additional 52,742 shares in the last quarter. Advisor Group Holdings Inc. grew its position in shares of Hello Group by 62.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 14,855 shares of the information services provider’s stock worth $85,000 after buying an additional 5,715 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Hello Group by 47.5% during the 1st quarter. American Century Companies Inc. now owns 113,804 shares of the information services provider’s stock worth $658,000 after purchasing an additional 36,655 shares during the last quarter. US Bancorp DE lifted its stake in shares of Hello Group by 49.6% during the 1st quarter. US Bancorp DE now owns 8,502 shares of the information services provider’s stock worth $49,000 after purchasing an additional 2,819 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Hello Group by 25.7% during the 1st quarter. BlackRock Inc. now owns 10,989,045 shares of the information services provider’s stock worth $63,517,000 after purchasing an additional 2,245,152 shares during the last quarter. Institutional investors own 60.15% of the company’s stock.

Hello Group Company Profile

(Get Rating)

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.

Read More

Receive News & Ratings for Hello Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hello Group and related companies with MarketBeat.com's FREE daily email newsletter.