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

Hello Group Inc. (NASDAQ:MOMO) saw some unusual options trading on Wednesday. Stock investors purchased 6,718 call options on the stock. This represents an increase of approximately 392% compared to the typical daily volume of 1,366 call options.

Institutional Trading of Hello Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. boosted its position in Hello Group by 8.4% during the 4th quarter. QRG Capital Management Inc. now owns 21,861 shares of the information services provider’s stock worth $169,000 after buying an additional 1,690 shares during the period. Cetera Investment Advisers raised its stake in shares of Hello Group by 3.6% during the fourth quarter. Cetera Investment Advisers now owns 64,877 shares of the information services provider’s stock valued at $500,000 after acquiring an additional 2,280 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Hello Group by 62.3% during the fourth quarter. Blue Trust Inc. now owns 6,287 shares of the information services provider’s stock worth $48,000 after purchasing an additional 2,414 shares during the period. Kathmere Capital Management LLC grew its stake in shares of Hello Group by 30.1% in the fourth 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 last quarter. Finally, Vident Advisory LLC increased its holdings in Hello Group by 34.0% in the fourth quarter. Vident Advisory LLC now owns 15,803 shares of the information services provider’s stock valued at $122,000 after purchasing an additional 4,009 shares during the period. 50.96% of the stock is currently owned by institutional investors.

Hello Group Stock Down 2.2 %

Shares of MOMO opened at $7.67 on Friday. The stock has a market cap of $1.11 billion, a PE ratio of 7.91, a PEG ratio of 2.07 and a beta of 0.47. Hello Group has a 12-month low of $4.79 and a 12-month high of $8.38. The business has a 50-day simple moving average of $7.39 and a two-hundred day simple moving average of $7.07.

Analyst Ratings Changes

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

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.