Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Hello Group Inc. (NASDAQ:MOMO)

Mirae Asset Global Investments Co. Ltd. boosted its position in Hello Group Inc. (NASDAQ:MOMO) by 9.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 112,129 shares of the information services provider’s stock after purchasing an additional 9,812 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Hello Group were worth $779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Van ECK Associates Corp purchased a new stake in Hello Group in the third quarter worth $55,000. SG Americas Securities LLC purchased a new stake in Hello Group in the fourth quarter worth $124,000. Banque Pictet & Cie SA purchased a new stake in Hello Group in the third quarter worth $144,000. DekaBank Deutsche Girozentrale purchased a new stake in Hello Group in the third quarter worth $153,000. Finally, QRG Capital Management Inc. purchased a new stake in Hello Group in the third quarter worth $259,000. 50.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MOMO. StockNews.com cut Hello Group from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Benchmark reduced their price target on Hello Group from $22.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Hello Group Price Performance

Shares of NASDAQ MOMO opened at $5.76 on Thursday. The stock has a market cap of $1.08 billion, a PE ratio of 4.17 and a beta of 0.68. Hello Group Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $11.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.72 and a current ratio of 3.74. The stock has a fifty day moving average of $6.24 and a 200-day moving average of $6.55.

Hello Group (NASDAQ:MOMO) last posted its quarterly earnings data on Thursday, March 14th. The information services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $422.95 million for the quarter, compared to the consensus estimate of $447.28 million. Hello Group had a net margin of 16.27% and a return on equity of 17.23%. Equities research analysts anticipate that Hello Group Inc. will post 1.46 earnings per share for the current year.

Hello Group Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be paid a dividend of $0.52 per share. This represents a yield of 8.97%. The ex-dividend date is Thursday, April 11th.

About Hello Group

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. 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.