Hello Group Inc. (NASDAQ:MOMO) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Hello Group Inc. (NASDAQ:MOMO) by 24.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,843 shares of the information services provider’s stock after selling 10,462 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hello Group were worth $228,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Qube Research & Technologies Ltd lifted its stake in Hello Group by 294.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,238,483 shares of the information services provider’s stock worth $8,645,000 after purchasing an additional 924,447 shares during the last quarter. LSV Asset Management lifted its position in shares of Hello Group by 72.4% during the 3rd quarter. LSV Asset Management now owns 1,586,869 shares of the information services provider’s stock worth $11,076,000 after buying an additional 666,402 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Hello Group by 2,364.6% in the 3rd quarter. GSA Capital Partners LLP now owns 457,080 shares of the information services provider’s stock valued at $3,190,000 after buying an additional 438,534 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Hello Group during the 3rd quarter worth $1,977,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Hello Group by 301.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 347,400 shares of the information services provider’s stock valued at $2,425,000 after acquiring an additional 260,900 shares during the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MOMO. StockNews.com lowered Hello Group from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Benchmark dropped their price target on Hello Group from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 15th.

Hello Group Price Performance

Shares of NASDAQ:MOMO opened at $6.14 on Tuesday. Hello Group Inc. has a one year low of $5.30 and a one year high of $11.12. The stock has a market capitalization of $888.96 million, a price-to-earnings ratio of 4.45 and a beta of 0.67. The company has a 50-day simple moving average of $6.15 and a 200-day simple moving average of $6.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.74 and a current ratio of 3.74.

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

Hello Group Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 12th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a yield of 8.97%.

Hello Group Company Profile

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.