Hello Group Inc. (NASDAQ:MOMO) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Hello Group Inc. (NASDAQ:MOMO) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,129 shares of the information services provider’s stock after purchasing an additional 9,812 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of Hello Group worth $779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Hello Group during the fourth quarter valued at about $124,000. Banque Pictet & Cie SA purchased a new position in Hello Group during the 3rd quarter valued at about $144,000. Penserra Capital Management LLC grew its stake in Hello Group by 7.7% during the 3rd quarter. Penserra Capital Management LLC now owns 142,214 shares of the information services provider’s stock valued at $992,000 after acquiring an additional 10,206 shares in the last quarter. GSA Capital Partners LLP grew its stake in Hello Group by 2,364.6% during the 3rd quarter. GSA Capital Partners LLP now owns 457,080 shares of the information services provider’s stock valued at $3,190,000 after acquiring an additional 438,534 shares in the last quarter. Finally, Caxton Associates LP grew its stake in Hello Group by 92.0% during the 3rd quarter. Caxton Associates LP now owns 221,078 shares of the information services provider’s stock valued at $1,543,000 after acquiring an additional 105,923 shares in the last quarter. 50.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MOMO has been the topic of several research analyst reports. Benchmark lowered their target price on Hello Group from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. StockNews.com cut Hello Group from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Hello Group Trading Up 0.7 %

Shares of NASDAQ MOMO opened at $5.76 on Thursday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 4.17 and a beta of 0.68. The business has a 50 day simple moving average of $6.24 and a 200 day simple moving average of $6.55. Hello Group Inc. has a 52 week low of $5.30 and a 52 week high of $11.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.72 and a current ratio of 3.74.

Hello Group (NASDAQ:MOMO) last announced its quarterly earnings results on Thursday, March 14th. The information services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $422.95 million during the quarter, compared to the consensus estimate of $447.28 million. Hello Group had a net margin of 16.27% and a return on equity of 17.23%. On average, research analysts predict that Hello Group Inc. will post 1.46 earnings per share for the current fiscal year.

Hello Group Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be paid a $0.52 dividend. The ex-dividend date is Thursday, April 11th. This represents a dividend yield of 8.97%.

About Hello Group

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. 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.