Millennium Management LLC Has $1.35 Million Stock Position in Hello Group Inc. (NASDAQ:MOMO)

Millennium Management LLC raised its stake in Hello Group Inc. (NASDAQ:MOMO) by 1,590.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,536 shares of the information services provider’s stock after acquiring an additional 164,209 shares during the quarter. Millennium Management LLC owned about 0.12% of Hello Group worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOMO. Norges Bank acquired a new stake in Hello Group in the 4th quarter valued at about $10,765,000. BNP Paribas Financial Markets bought a new position in Hello Group during the 4th quarter worth approximately $4,535,000. O Shaughnessy Asset Management LLC bought a new position in Hello Group during the 4th quarter worth approximately $1,789,000. Jump Financial LLC bought a new position in Hello Group in the fourth quarter valued at approximately $1,124,000. Finally, Northern Trust Corp lifted its stake in Hello Group by 53.3% in the fourth quarter. Northern Trust Corp now owns 390,686 shares of the information services provider’s stock valued at $3,012,000 after buying an additional 135,879 shares in the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Hello Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Benchmark restated a “buy” rating and set a $13.00 target price on shares of Hello Group in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Hello Group currently has an average rating of “Hold” and a consensus price target of $9.00.

Hello Group Trading Up 0.5%

Shares of MOMO opened at $6.14 on Wednesday. Hello Group Inc. has a 1-year low of $5.12 and a 1-year high of $8.38. The company has a market cap of $739.79 million, a price-to-earnings ratio of 6.33, a PEG ratio of 2.07 and a beta of 0.24. The company’s fifty day simple moving average is $5.88 and its 200 day simple moving average is $6.74.

Hello Group Cuts Dividend

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

About Hello Group

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.