Hello Group (NASDAQ:MOMO) Sets New 52-Week Low – Here’s Why

Hello Group Inc. Sponsored ADR (NASDAQ:MOMO)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $5.41 and last traded at $5.48, with a volume of 824804 shares trading hands. The stock had previously closed at $5.49.

Analysts Set New Price Targets

MOMO has been the subject of several recent research reports. UBS Group set a $10.00 price target on shares of Hello Group in a research report on Thursday, June 4th. Benchmark restated a “buy” rating on shares of Hello Group in a research report on Thursday, June 4th. Finally, Weiss Ratings cut shares of Hello Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.05.

Hello Group Trading Down 0.2%

The company’s 50-day simple moving average is $6.05 and its 200-day simple moving average is $6.39. The stock has a market capitalization of $589.48 million, a price-to-earnings ratio of 8.56 and a beta of 0.46.

Hello Group Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, April 30th. Stockholders of record on Friday, April 10th were given a dividend of $0.28 per share. The ex-dividend date was Friday, April 10th. This represents a dividend yield of 475.0%.

Institutional Investors Weigh In On Hello Group

Large investors have recently modified their holdings of the company. LSV Asset Management increased its position in shares of Hello Group by 6.3% during the third quarter. LSV Asset Management now owns 2,939,819 shares of the information services provider’s stock worth $21,813,000 after buying an additional 173,424 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Hello Group by 23.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,194,428 shares of the information services provider’s stock worth $7,824,000 after buying an additional 226,637 shares during the period. GSA Capital Partners LLP increased its position in shares of Hello Group by 129.9% during the third quarter. GSA Capital Partners LLP now owns 400,263 shares of the information services provider’s stock worth $2,970,000 after buying an additional 226,127 shares during the period. Causeway Capital Management LLC increased its position in shares of Hello Group by 19.1% during the third quarter. Causeway Capital Management LLC now owns 2,794,347 shares of the information services provider’s stock worth $20,734,000 after buying an additional 448,123 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Hello Group by 142.9% during the third quarter. JPMorgan Chase & Co. now owns 767,326 shares of the information services provider’s stock worth $5,694,000 after buying an additional 451,408 shares during the period. 50.96% of the stock is currently owned by institutional investors and hedge funds.

Hello Group Company Profile

Hello Group Inc (NASDAQ: MOMO) is a China-based technology company specializing in mobile social networking and interactive entertainment. Its flagship product, the Momo app, offers location-based social discovery services that enable users to find and connect with new friends based on shared interests and geographic proximity. The platform integrates instant messaging, group chat, and content-sharing features, while also providing premium subscriptions and in-app purchases such as virtual gifts and sticker packs.

In addition to Momo, Hello Group’s portfolio includes Tantan, a dating-focused social app designed to help users build meaningful relationships through profile matching and interest-driven swiping.