Hello Group (NASDAQ:MOMO – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Hello Group Trading Down 0.7%
NASDAQ MOMO opened at $7.48 on Friday. The stock’s 50 day moving average is $8.32 and its two-hundred day moving average is $7.27. The company has a market capitalization of $901.24 million, a price-to-earnings 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.
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Institutional Investors Weigh In On Hello Group
A number of institutional investors have recently added to or reduced their stakes in MOMO. Raymond James Financial Inc. acquired a new stake in Hello Group during the second quarter valued at approximately $41,000. Loomis Sayles & Co. L P boosted its holdings in Hello Group by 322.1% during the second quarter. Loomis Sayles & Co. L P now owns 5,390 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 4,113 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Hello Group during the first quarter valued at approximately $56,000. Nomura Holdings Inc. acquired a new stake in Hello Group during the first quarter valued at approximately $63,000. Finally, Aigen Investment Management LP acquired a new stake in Hello Group during the first quarter valued at approximately $85,000. 50.96% of the stock is owned by institutional investors and hedge funds.
Hello Group Company Profile
(Get Free Report)
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.
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