New York State Common Retirement Fund Cuts Stock Holdings in Hello Group Inc. (NASDAQ:MOMO)

New York State Common Retirement Fund lessened its holdings in Hello Group Inc. (NASDAQ:MOMO) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 295,472 shares of the information services provider’s stock after selling 9,176 shares during the quarter. New York State Common Retirement Fund’s holdings in Hello Group were worth $2,054,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MOMO. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hello Group by 31,280.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,305 shares of the information services provider’s stock valued at $302,000 after buying an additional 43,167 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Hello Group by 4.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,317 shares of the information services provider’s stock worth $714,000 after purchasing an additional 4,631 shares in the last quarter. Jacob Asset Management of New York LLC boosted its position in shares of Hello Group by 22.9% during the 3rd quarter. Jacob Asset Management of New York LLC now owns 151,145 shares of the information services provider’s stock worth $1,055,000 after purchasing an additional 28,145 shares in the last quarter. Banque Pictet & Cie SA acquired a new position in shares of Hello Group during the 3rd quarter worth $144,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Hello Group by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 79,070 shares of the information services provider’s stock valued at $552,000 after purchasing an additional 4,199 shares in the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MOMO. StockNews.com downgraded shares of Hello Group from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Benchmark decreased 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 Trading Down 0.2 %

Shares of MOMO stock opened at $6.07 on Thursday. The stock has a market cap of $879.54 million, a P/E ratio of 4.40 and a beta of 0.67. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.16. Hello Group Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $11.12. The business has a fifty day simple moving average of $6.13 and a 200-day simple moving average of $6.46.

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

Hello Group Cuts Dividend

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