Hello Group’s (MOMO) Buy Rating Reiterated at Benchmark

Hello Group (NASDAQ:MOMO)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a research note issued on Thursday,Benzinga reports. They presently have a $13.00 price objective on the information services provider’s stock. Benchmark’s price objective points to a potential upside of 83.23% from the company’s previous close.

A number of other equities analysts have also weighed in on MOMO. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Citigroup raised their price target on Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Hello Group has a consensus rating of “Hold” and an average price target of $8.25.

Hello Group Stock Up 4.3 %

Hello Group stock traded up $0.30 during trading hours on Thursday, hitting $7.10. The stock had a trading volume of 574,725 shares, compared to its average volume of 1,053,519. The stock has a market capitalization of $1.03 billion, a P/E ratio of 7.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.44. The stock’s 50-day moving average price is $7.37 and its 200-day moving average price is $7.11. Hello Group has a 12-month low of $4.79 and a 12-month high of $8.38.

Institutional Investors Weigh In On Hello Group

A number of hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in Hello Group during the fourth quarter valued at $35,000. Blue Trust Inc. lifted its holdings in Hello Group by 62.3% during the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 2,414 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Hello Group in the fourth quarter worth approximately $79,000. Kathmere Capital Management LLC increased its stake in shares of Hello Group by 30.1% in the fourth quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock worth $113,000 after purchasing an additional 3,407 shares in the last quarter. Finally, Vident Advisory LLC raised its position in shares of Hello Group by 34.0% during the 4th quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock valued at $122,000 after purchasing an additional 4,009 shares during the period. Institutional investors own 50.96% of the company’s stock.

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.