D. E. Shaw & Co. Inc. Sells 56,540 Shares of Hello Group Inc. (NASDAQ:MOMO)

D. E. Shaw & Co. Inc. reduced its holdings in shares of Hello Group Inc. (NASDAQ:MOMO) by 23.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,257 shares of the information services provider’s stock after selling 56,540 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.13% of Hello Group worth $1,451,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. QRG Capital Management Inc. raised its stake in shares of Hello Group by 8.4% in the fourth quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock valued at $169,000 after buying an additional 1,690 shares during the period. Cetera Investment Advisers raised its stake in shares of Hello Group by 3.6% in the fourth quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider’s stock valued at $500,000 after buying an additional 2,280 shares during the period. Blue Trust Inc. raised its stake in shares of Hello Group by 62.3% in the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after buying an additional 2,414 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Hello Group in the fourth quarter valued at $35,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Hello Group in the fourth quarter valued at $79,000. 50.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Benchmark restated a “buy” rating and issued a $13.00 target price on shares of Hello Group in a research note on Thursday, March 13th. Wall Street Zen lowered Hello Group from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Hello Group currently has an average rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Performance

Shares of NASDAQ MOMO opened at $6.08 on Friday. The stock has a market cap of $732.56 million, a PE ratio of 6.27, a price-to-earnings-growth ratio of 2.07 and a beta of 0.24. Hello Group Inc. has a fifty-two week low of $4.79 and a fifty-two week high of $8.38. The stock has a fifty day moving average of $5.97 and a 200-day moving average of $6.79.

Hello Group Cuts Dividend

The business also recently declared an annual dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th were given a $0.30 dividend. This represents a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, April 11th.

Hello Group 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.