Hello Group (NASDAQ:MOMO) Shares Down 2.6% – Should You Sell?

Shares of Hello Group Inc. (NASDAQ:MOMO) traded down 2.6% during mid-day trading on Thursday . The stock traded as low as $7.45 and last traded at $7.51. 101,823 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 1,635,335 shares. The stock had previously closed at $7.71.

Analyst Ratings Changes

Several equities research analysts have commented on MOMO shares. StockNews.com raised shares of Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Bank of America lowered Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Citigroup increased their price target on Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Benchmark dropped their price objective on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Hello Group presently has an average rating of “Hold” and an average price target of $8.25.

Hello Group Stock Down 3.2 %

The stock has a market cap of $1.08 billion, a P/E ratio of 7.69, a price-to-earnings-growth ratio of 2.40 and a beta of 0.51. The firm has a 50 day simple moving average of $7.06 and a 200-day simple moving average of $6.81.

Institutional Trading of Hello Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in Hello Group during the second quarter worth approximately $22,553,000. Dimensional Fund Advisors LP boosted its stake in Hello Group by 20.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,716,809 shares of the information services provider’s stock valued at $22,736,000 after purchasing an additional 633,746 shares during the period. Blue Trust Inc. lifted its holdings in shares of Hello Group by 472.1% during the third quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after buying an additional 3,196 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Hello Group by 105.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,030 shares of the information services provider’s stock valued at $160,000 after acquiring an additional 10,818 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Hello Group by 22.6% in the second quarter. American Century Companies Inc. now owns 721,760 shares of the information services provider’s stock valued at $4,417,000 after acquiring an additional 133,113 shares in the last quarter. 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.