Stock Traders Purchase Large Volume of Hello Group Put Options (NASDAQ:MOMO)

Hello Group Inc. (NASDAQ:MOMOGet Free Report) was the target of some unusual options trading activity on Tuesday. Stock traders purchased 4,838 put options on the company. This is an increase of 390% compared to the average volume of 988 put options.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MOMO. JPMorgan Chase & Co. downgraded shares of Hello Group from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $6.00 in a research note on Monday, June 3rd. Morgan Stanley cut Hello Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, May 15th. StockNews.com cut shares of Hello Group from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Benchmark dropped their price objective on shares of Hello Group from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Finally, Citigroup lowered their target price on shares of Hello Group from $6.40 to $5.70 and set a “neutral” rating for the company in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Hello Group presently has a consensus rating of “Hold” and an average price target of $8.90.

Check Out Our Latest Report on MOMO

Institutional Trading of Hello Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in Hello Group by 9.0% in the fourth quarter. Quadrant Capital Group LLC now owns 32,840 shares of the information services provider’s stock valued at $228,000 after acquiring an additional 2,712 shares during the period. Headlands Technologies LLC bought a new position in Hello Group during the 4th quarter worth $28,000. Platinum Investment Management Ltd. increased its position in Hello Group by 110.0% in the first quarter. Platinum Investment Management Ltd. now owns 8,971 shares of the information services provider’s stock worth $56,000 after buying an additional 4,700 shares during the period. Virtu Financial LLC increased its position in Hello Group by 31.8% in the fourth quarter. Virtu Financial LLC now owns 31,390 shares of the information services provider’s stock worth $218,000 after buying an additional 7,581 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Hello Group by 9.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,129 shares of the information services provider’s stock valued at $779,000 after buying an additional 9,812 shares during the last quarter. 50.96% of the stock is owned by hedge funds and other institutional investors.

Hello Group Stock Performance

Shares of MOMO opened at $6.60 on Thursday. Hello Group has a 1 year low of $4.79 and a 1 year high of $11.12. The company’s 50 day simple moving average is $5.90 and its 200 day simple moving average is $6.13. The company has a market capitalization of $956.34 million, a price-to-earnings ratio of 6.00, a PEG ratio of 1.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.36 and a current ratio of 2.36.

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

About Hello Group

(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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