Hello Group (NASDAQ:MOMO) Upgraded at StockNews.com

StockNews.com upgraded shares of Hello Group (NASDAQ:MOMO) from a sell rating to a hold rating in a report released on Wednesday morning.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group boosted their price target on Hello Group from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Benchmark dropped their target price on shares of Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America lowered shares of Hello Group from a “buy” rating to an “underperform” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.93.

Hello Group Stock Performance

Shares of NASDAQ:MOMO opened at $6.73 on Wednesday. Hello Group has a 12-month low of $4.79 and a 12-month high of $8.19. The company’s 50 day moving average price is $7.01 and its two-hundred day moving average price is $6.53. The firm has a market cap of $975.17 million, a PE ratio of 6.73, a PEG ratio of 2.03 and a beta of 0.54. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.17.

Hello Group (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $2.13. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. The firm’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. Equities research analysts predict that Hello Group will post 0.73 earnings per share for the current year.

Institutional Investors Weigh In On Hello Group

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in Hello Group by 472.1% during the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after purchasing an additional 3,196 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Hello Group by 105.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,030 shares of the information services provider’s stock worth $160,000 after buying an additional 10,818 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Hello Group by 19.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 67,812 shares of the information services provider’s stock valued at $415,000 after acquiring an additional 11,013 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Hello Group during the 2nd quarter valued at $68,000. Finally, Kathmere Capital Management LLC bought a new stake in Hello Group during the 2nd quarter worth $74,000. 50.96% of the stock is currently owned by institutional investors and hedge funds.

About Hello Group

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.