Hello Group (NASDAQ:MOMO) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Hello Group (NASDAQ:MOMO) from an overweight rating to a neutral rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have $6.00 price target on the information services provider’s stock, down from their previous price target of $13.00.

A number of other analysts also recently weighed in on MOMO. Citigroup cut their price target on shares of Hello Group from $6.40 to $5.70 and set a neutral rating for the company in a report on Wednesday, May 29th. Morgan Stanley downgraded Hello Group from an equal weight rating to an underweight rating in a report on Wednesday, May 15th. Benchmark lowered their price target on Hello Group from $16.00 to $15.00 and set a buy rating for the company in a report on Wednesday, May 29th. Finally, StockNews.com downgraded shares of Hello Group from a buy rating to a hold rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Hello Group has an average rating of Hold and an average target price of $8.90.

Hello Group Price Performance

NASDAQ:MOMO opened at $5.46 on Monday. Hello Group has a 52 week low of $4.79 and a 52 week high of $11.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.36 and a current ratio of 2.36. The firm’s 50-day simple moving average is $5.83 and its 200 day simple moving average is $6.28. The firm has a market cap of $791.15 million, a price-to-earnings ratio of 4.96, a P/E/G ratio of 1.21 and a beta of 0.59.

Hello Group (NASDAQ:MOMO) last issued its quarterly earnings results on Tuesday, May 28th. The information services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.48 billion. Hello Group had a return on equity of 13.61% and a net margin of 13.38%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. As a group, sell-side analysts predict that Hello Group will post 0.98 earnings per share for the current year.

Hello Group Cuts Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 12th were issued a dividend of $0.52 per share. This represents a dividend yield of 8.97%. The ex-dividend date of this dividend was Thursday, April 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MOMO. Headlands Technologies LLC acquired a new position in Hello Group in the fourth quarter valued at $28,000. Van ECK Associates Corp bought a new stake in shares of Hello Group during the 3rd quarter valued at about $55,000. Platinum Investment Management Ltd. boosted its position in shares of Hello Group by 110.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock valued at $56,000 after purchasing an additional 4,700 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Hello Group by 10,987.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,311 shares of the information services provider’s stock worth $72,000 after purchasing an additional 10,218 shares during the period. Finally, D Orazio & Associates Inc. bought a new stake in Hello Group in the fourth quarter worth approximately $79,000. 50.96% of the stock is owned by institutional investors and hedge funds.

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.