588,236 Shares in Hello Group Inc. (NASDAQ:MOMO) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new stake in Hello Group Inc. (NASDAQ:MOMO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 588,236 shares of the information services provider’s stock, valued at approximately $4,535,000. BNP Paribas Financial Markets owned about 0.41% of Hello Group at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MOMO. Assenagon Asset Management S.A. acquired a new position in shares of Hello Group during the 4th quarter worth about $8,616,000. SBI Securities Co. Ltd. bought a new position in Hello Group during the 4th quarter worth approximately $35,000. Caprock Group LLC boosted its stake in Hello Group by 47.3% during the 4th quarter. Caprock Group LLC now owns 35,763 shares of the information services provider’s stock worth $276,000 after acquiring an additional 11,484 shares during the last quarter. QRG Capital Management Inc. grew its holdings in Hello Group by 8.4% during the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock valued at $169,000 after purchasing an additional 1,690 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in Hello Group in the fourth quarter valued at approximately $158,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Stock Up 1.9%

NASDAQ:MOMO opened at $6.40 on Wednesday. The firm has a market capitalization of $771.12 million, a price-to-earnings ratio of 6.60, a P/E/G ratio of 2.07 and a beta of 0.24. Hello Group Inc. has a 12-month low of $4.79 and a 12-month high of $8.38. The stock’s 50 day moving average price is $6.11 and its two-hundred day moving average price is $6.83.

Hello Group Cuts Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 11th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a yield of 4.18%.

Analyst Ratings Changes

Several brokerages recently issued reports on MOMO. Benchmark reiterated a “buy” rating and issued a $13.00 price objective on shares of Hello Group in a research report on Thursday, March 13th. StockNews.com lowered shares of Hello Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Hello Group has an average rating of “Hold” and a consensus price target of $8.25.

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.