California Public Employees Retirement System Trims Holdings in Hello Group Inc. (NASDAQ:MOMO)

California Public Employees Retirement System lowered its position in Hello Group Inc. (NASDAQ:MOMO) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 177,832 shares of the information services provider’s stock after selling 24,188 shares during the period. California Public Employees Retirement System owned approximately 0.12% of Hello Group worth $1,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. QRG Capital Management Inc. boosted its holdings in shares of Hello Group by 8.4% in the 4th quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock valued at $169,000 after acquiring an additional 1,690 shares during the last quarter. Blue Trust Inc. boosted its holdings in Hello Group by 62.3% in the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 2,414 shares during the last quarter. Kathmere Capital Management LLC grew its position in Hello Group by 30.1% during the 4th quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock worth $113,000 after purchasing an additional 3,407 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Hello Group in the 4th quarter valued at about $35,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 worth $160,000 after buying an additional 10,818 shares during the last quarter. Institutional investors and hedge funds own 50.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup lifted 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. Benchmark reaffirmed a “buy” rating and set a $13.00 target price on shares of Hello Group in a report on Thursday, March 13th. Finally, StockNews.com lowered shares of Hello Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.25.

Hello Group Stock Performance

Hello Group stock opened at $5.39 on Wednesday. The company’s fifty day moving average price is $7.09 and its 200 day moving average price is $7.10. The stock has a market capitalization of $781.01 million, a P/E ratio of 5.56, a P/E/G ratio of 2.07 and a beta of 0.33. Hello Group Inc. has a 1 year low of $4.79 and a 1 year high of $8.38.

Hello Group Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, April 11th. This represents a dividend yield of 4.18%.

Hello Group 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.