Dimensional Fund Advisors LP lowered its holdings in Hello Group Inc. (NASDAQ:MOMO – Get Rating) by 24.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,517,674 shares of the information services provider’s stock after selling 800,375 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.59% of Hello Group worth $22,617,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of Hello Group by 6.7% in the 4th quarter. Principal Financial Group Inc. now owns 68,896 shares of the information services provider’s stock valued at $619,000 after purchasing an additional 4,339 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Hello Group by 16.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 40,990 shares of the information services provider’s stock valued at $368,000 after purchasing an additional 5,858 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Hello Group in the 4th quarter valued at about $238,000. California Public Employees Retirement System raised its holdings in shares of Hello Group by 4.6% in the 4th quarter. California Public Employees Retirement System now owns 325,376 shares of the information services provider’s stock valued at $2,922,000 after purchasing an additional 14,213 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Hello Group by 255.4% in the 4th quarter. Parallel Advisors LLC now owns 11,348 shares of the information services provider’s stock valued at $102,000 after purchasing an additional 8,155 shares in the last quarter. Institutional investors own 60.15% of the company’s stock.
Hello Group Price Performance
MOMO stock opened at $8.88 on Monday. The firm’s fifty day simple moving average is $8.54 and its 200-day simple moving average is $8.65. The company has a market capitalization of $1.75 billion, a P/E ratio of 8.15 and a beta of 0.88. Hello Group Inc. has a 12 month low of $4.09 and a 12 month high of $11.54.
Hello Group (NASDAQ:MOMO – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The information services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. Hello Group had a net margin of 11.61% and a return on equity of 14.00%. The firm had revenue of $465.79 million for the quarter, compared to the consensus estimate of $462.50 million. As a group, sell-side analysts forecast that Hello Group Inc. will post 1.27 earnings per share for the current year.
Hello Group Increases Dividend
The business also recently disclosed a — dividend, which was paid on Monday, May 22nd. Shareholders of record on Friday, April 28th were issued a dividend of $0.70 per share. This is an increase from Hello Group’s previous — dividend of $0.62. The ex-dividend date was Thursday, April 27th.
Analysts Set New Price Targets
Several research firms recently commented on MOMO. UBS Group upgraded shares of Hello Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.80 to $12.50 in a research note on Thursday, April 27th. JPMorgan Chase & Co. upgraded shares of Hello Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.00 to $13.00 in a research note on Friday, April 14th. StockNews.com upgraded shares of Hello Group from a “hold” rating to a “buy” rating in a research note on Monday, May 29th. TheStreet upgraded shares of Hello Group from a “d+” rating to a “c-” rating in a research note on Thursday, March 30th. Finally, Morgan Stanley lowered shares of Hello Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $9.00 to $12.00 in a research note on Thursday, February 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.90.
Hello Group Profile
Hello Group, Inc operates as a mobile-based social networking platform. It operates under the following segments: Momo’s service lines, Tantan’s service lines, and QOOL’s service line. The company was founded by Yan Tang, Yong Li, Xiao Liang Lei and Zhiwei Li in July 2011 and is headquartered in Beijing, China.
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