Hello Group (NASDAQ:MOMO) Hits New 1-Year High at $7.77

Hello Group Inc. (NASDAQ:MOMO)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $7.77 and last traded at $7.76, with a volume of 300035 shares traded. The stock had previously closed at $7.41.

Analyst Upgrades and Downgrades

MOMO has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on Hello Group from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Benchmark lowered their target price on Hello Group from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, StockNews.com upgraded Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.93.

Hello Group Trading Up 3.3 %

The business has a 50 day simple moving average of $6.67 and a two-hundred day simple moving average of $6.21. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 7.15, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53.

Hello Group (NASDAQ:MOMO) last issued its quarterly earnings data on Tuesday, September 3rd. The information services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $2.13. Hello Group had a return on equity of 12.09% and a net margin of 12.40%. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the firm earned $0.39 EPS. Hello Group’s quarterly revenue was down 14.2% on a year-over-year basis. As a group, equities analysts anticipate that Hello Group Inc. will post 0.73 EPS for the current year.

Institutional Trading of Hello Group

Several hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its holdings in shares of Hello Group by 26.4% in the 1st quarter. Acadian Asset Management LLC now owns 7,377,789 shares of the information services provider’s stock worth $45,781,000 after purchasing an additional 1,538,632 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Hello Group by 14.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,274,996 shares of the information services provider’s stock valued at $29,711,000 after acquiring an additional 555,602 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Hello Group by 20.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after acquiring an additional 633,746 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd bought a new stake in Hello Group during the 2nd quarter valued at $22,553,000. Finally, LSV Asset Management raised its stake in Hello Group by 33.5% during the 1st quarter. LSV Asset Management now owns 2,277,629 shares of the information services provider’s stock valued at $14,144,000 after acquiring an additional 571,840 shares in the last quarter. Institutional investors own 50.96% of the company’s stock.

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.