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

Shares of Hello Group Inc. (NASDAQ:MOMOGet Free Report) shot up 4.2% during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $7.12 and last traded at $7.09. 574,725 shares changed hands during trading, a decline of 45% from the average session 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. Stockholders of record on Friday, April 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a dividend yield of 4.18%.

Wall Street Analysts Forecast Growth

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

Get Our Latest Analysis on MOMO

Hello Group Stock Performance

The stock has a market cap of $1.02 billion, a P/E ratio of 7.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.44. The firm’s 50 day moving average is $7.36 and its 200 day moving average is $7.11.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Hello Group in the fourth quarter worth $35,000. Blue Trust Inc. boosted its holdings in Hello Group by 62.3% during the fourth 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 in the last quarter. Hsbc Holdings PLC purchased a new stake in Hello Group during the fourth quarter worth $79,000. Kathmere Capital Management LLC boosted its holdings in Hello Group by 30.1% during the fourth 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 in the last quarter. Finally, Vident Advisory LLC boosted its holdings in Hello Group by 34.0% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

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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