Hello Group (NASDAQ:MOMO) Lowered to “Hold” Rating by Wall Street Zen

Hello Group (NASDAQ:MOMO) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Hello Group Stock Down 0.7%

Hello Group stock opened at $7.48 on Friday. The company’s fifty day simple moving average is $8.32 and its 200-day simple moving average is $7.28. Hello Group has a 12 month low of $5.12 and a 12 month high of $9.22. The stock has a market cap of $901.27 million, a P/E ratio of 8.40 and a beta of 0.38.

Hedge Funds Weigh In On Hello Group

Several institutional investors and hedge funds have recently modified their holdings of MOMO. Northern Trust Corp grew its holdings in shares of Hello Group by 53.3% during the 4th quarter. Northern Trust Corp now owns 390,686 shares of the information services provider’s stock valued at $3,012,000 after acquiring an additional 135,879 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Hello Group by 3.6% in the fourth quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider’s stock worth $500,000 after purchasing an additional 2,280 shares in the last quarter. Millennium Management LLC boosted its holdings in Hello Group by 1,590.1% in the fourth quarter. Millennium Management LLC now owns 174,536 shares of the information services provider’s stock worth $1,346,000 after purchasing an additional 164,209 shares in the last quarter. Vident Advisory LLC boosted its holdings in Hello Group by 34.0% in the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock worth $122,000 after purchasing an additional 4,009 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Hello Group by 14.2% in the first quarter. QRG Capital Management Inc. now owns 24,959 shares of the information services provider’s stock worth $157,000 after purchasing an additional 3,098 shares in the last quarter. 50.96% of the stock is currently owned by hedge funds and other institutional investors.

Hello Group Company Profile

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.