Hello Group (NASDAQ:MOMO) Lowered to “Hold” Rating by Wall Street Zen

Hello Group (NASDAQ:MOMO) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Hello Group Stock Performance

NASDAQ MOMO opened at $7.48 on Friday. The stock has a market capitalization of $901.27 million, a P/E ratio of 8.40 and a beta of 0.38. Hello Group has a 1 year low of $5.12 and a 1 year high of $9.22. The business’s fifty day moving average is $8.32 and its two-hundred day moving average is $7.28.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MOMO. Norges Bank acquired a new stake in Hello Group during the 2nd quarter valued at $14,976,000. Causeway Capital Management LLC raised its stake in Hello Group by 136.2% during the 1st quarter. Causeway Capital Management LLC now owns 2,089,913 shares of the information services provider’s stock valued at $13,187,000 after purchasing an additional 1,205,166 shares during the period. Man Group plc acquired a new stake in Hello Group during the 2nd quarter valued at $8,904,000. Tiger Pacific Capital LP acquired a new stake in Hello Group during the 1st quarter valued at $6,268,000. Finally, Marshall Wace LLP raised its stake in Hello Group by 882.9% during the 2nd quarter. Marshall Wace LLP now owns 859,024 shares of the information services provider’s stock valued at $7,250,000 after purchasing an additional 771,624 shares during the period. Institutional investors own 50.96% of the company’s stock.

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.