Hello Group (NASDAQ:MOMO) Trading Up 4.2% Following Dividend Announcement

Hello Group Inc. (NASDAQ:MOMOGet Free Report) shares were up 4.2% during trading on Thursday following a dividend announcement from the company. The stock traded as high as $7.12 and last traded at $7.09. Approximately 574,725 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,053,519 shares. The stock had previously closed at $6.80.

The newly announced dividend which will be paid on Wednesday, April 30th. Investors of record on Friday, April 11th will be given a dividend of $0.30 per share. This represents a dividend yield of 4.18%. The ex-dividend date is Friday, April 11th.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MOMO shares. Citigroup raised their price target on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Benchmark restated a “buy” rating and issued a $13.00 target price on shares of Hello Group in a report on Thursday. Finally, StockNews.com upgraded shares of Hello Group from a “hold” rating to a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Hello Group currently has an average rating of “Hold” and a consensus target price of $8.25.

Get Our Latest Analysis on MOMO

Hello Group Trading Down 1.5 %

The company has a market cap of $1.02 billion, a PE ratio of 7.28, a PEG ratio of 2.07 and a beta of 0.44. The business’s 50 day moving average is $7.36 and its two-hundred day moving average is $7.11.

Institutional Trading of Hello Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in Hello Group in the 4th quarter valued at $35,000. Blue Trust Inc. increased its holdings in shares of Hello Group by 62.3% in the 4th quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock worth $48,000 after buying an additional 2,414 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Hello Group in the 4th quarter worth about $79,000. Kathmere Capital Management LLC increased its holdings in shares of Hello Group by 30.1% in the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock worth $113,000 after buying an additional 3,407 shares during the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of Hello Group by 34.0% in the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock worth $122,000 after buying an additional 4,009 shares during the last quarter. 50.96% of the stock is currently owned by institutional investors.

About Hello Group

(Get Free Report)

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.

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