Investors Purchase Large Volume of Call Options on Hello Group (NASDAQ:MOMO)

Hello Group Inc. (NASDAQ:MOMO) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 8,207 call options on the stock. This is an increase of approximately 861% compared to the typical daily volume of 854 call options.

Hello Group Stock Performance

Hello Group stock traded down $0.27 during trading hours on Friday, hitting $7.19. The company had a trading volume of 433,277 shares, compared to its average volume of 793,464. The firm has a market cap of $1.04 billion, a P/E ratio of 7.41, a P/E/G ratio of 1.84 and a beta of 0.48. The company has a 50-day moving average price of $7.14 and a two-hundred day moving average price of $6.94. Hello Group has a 1 year low of $4.79 and a 1 year high of $8.19.

Analyst Ratings Changes

Several research firms have recently issued reports on MOMO. Citigroup raised their target price on shares of Hello Group from $5.90 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Bank of America downgraded shares of Hello Group from a “buy” rating to an “underperform” rating in a research note on Wednesday, November 6th. Finally, StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.25.

Institutional Trading of Hello Group

A number of large investors have recently modified their holdings of MOMO. Blue Trust Inc. raised its position in Hello Group by 62.3% during the 4th 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 in the last quarter. Kathmere Capital Management LLC increased its stake in shares of Hello Group by 30.1% during the fourth quarter. Kathmere Capital Management LLC now owns 14,717 shares of the information services provider’s stock valued at $113,000 after buying an additional 3,407 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Hello Group in the second quarter worth about $68,000. Finally, Caprock Group LLC grew its holdings in Hello Group by 47.3% during the 4th quarter. Caprock Group LLC now owns 35,763 shares of the information services provider’s stock worth $276,000 after acquiring an additional 11,484 shares in the last quarter. Hedge funds and other institutional investors own 50.96% of the company’s stock.

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.