Invesco Asset Management Ltd. has recently announced that it has increased stake in Hello Group Inc. (NASDAQ:MOMO) by 4.92%. After grabbing 9.41 million shares, the institutional investor is now in possession of 0.44 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 6.17% having worth around $78.68 million. Moreover, BlackRock Fund Advisors increased its share by 0.14 million to have a control over 3.66 million shares. And Bank of America, NA raised its holdings to 3.2 million shares by acquiring 3.23 million shares or 2.12% of the stake.
Hello Group Inc. (MOMO) concluded trading on 05/24/23 at a closing price of $8.58, with 0.98 million shares of worth about $8.38 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 84.56% during that period and on Wednesday the price saw a gain of about 0.82%. Currently the company’s common shares owned by public are about 188.85M shares, out of which, 140.21M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 15 analysts are covering the MOMO stock and their offered price forecasts bring an average price target of $74.42. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $144.93 and could fall to a lowest price of $51.76. The stock’s current price level is 23.32% above of average price target set by the analysts, while a rise to estimated low would result in gain of 83.42% for the stock. However, touching the estimated high of $144.93 would mean a gain of 94.08% for the stock.
Invesco Funds – Global Consumer T, R Valor, and Vanguard Emerging Markets Stock I are the top 3 mutual funds which are holding stakes in Hello Group Inc. Invesco Funds – Global Consumer T is currently holding 8.82 million shares of worth totaling $73.72 million. The company recently came selling -0.22 million shares which brought its stake up to 5.78% of the company’s outstanding shares. R Valor sold -0.12 million shares, after which its hold over company’s outstanding shares shrunk to 2.10%, leaving 3.2 million shares with the mutual fund that have a worth of about $26.79 million. Vanguard Emerging Markets Stock I, after buying 2.05 million shares, have now control over 1.35% of the stake in the company. It holds 0.0 shares of worth $17.16 million.
Hello Group Inc. (NASDAQ: MOMO) started trading at $8.56, above $0.05 from concluding price of the previous day. However, the stock later moved at a day high price of 8.76, or with a gain of 0.82%. Stock saw a price change of -3.05% in past 5 days and over the past one month there was a price change of 15.97%. Year-to-date (YTD), MOMO shares are showing a performance of 4.61% which increased to 90.55% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.74 but also hit the highest price of $10.54 during that period. The average intraday trading volume for Hello Group Inc. shares is 1.50 million. The stock is currently trading 2.19% above its 20-day simple moving average (SMA20), while that difference is up 6.45% for SMA50 and it goes to 27.20% higher than SMA200.
Invesco Asset Management Ltd. acquired 9.41 million shares of Hello Group Inc. having value of about $78.68 million. Data submitted at the U.S SEC by Invesco Asset Management Ltd. revealed that the firm now holds 0.44 million shares in the company valued at close to $3783780.0, or have control over 4.92% stake in the company. Hello Group Inc. (NASDAQ: MOMO) currently have 188.85M outstanding shares and institutions hold larger chunk of about 70.20% of that. Holding of mutual funds in the company is about 27.64% while other institutional holders and individual stake holders have control over 43.30% and — of the stake respectively.
The stock has a current market capitalization of $1.66B and its 3Y-monthly beta is at 0.88. PE ratio of stock for trailing 12 months is 8.50, while it has posted earnings per share of $1.01 in the same period. Its PEG reads 5.78 and has Quick Ratio of 2.50 while making debt-to-equity ratio of 0.25. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MOMO, volatility over the week remained 4.14% while standing at 4.98% over the month.
Analysts are in expectations that Hello Group Inc. (MOMO) stock would likely to be making an EPS of $0.27 in the current quarter, while forecast for next quarter EPS is $0.33 and it is $1.48 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.25 which is $0.33 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.29 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 148.60% while it is estimated to increase by 8.00% in next year. EPS is likely to grow at an annualized rate of 1.47% for next 5-years, compared to annual growth of -7.50% made by the stock over the past 5-years.
Analysts at 15 brokerage firms have issued recommendations for the Hello Group Inc. (MOMO)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 15 Wall Street analysts, 9 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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