Men, currently popular, hosting ball for stars (5)
I believe the answer is:
orion
'for stars' is the definition.
(Orion is a constellation)
'men currently popular hosting ball' is the wordplay.
'men' becomes 'OR' (military abbreviation for other ranks).
'currently popular' becomes 'in' ('in' can mean trendy. I am not sure about the 'currently' bit.).
'hosting' means one lot of letters goes inside another (inserted letters are welcomed in or hosted).
'ball' becomes 'o' (O looks like a ball).
'in' placed around 'o' is 'ion'.
'or'+'ion'='ORION'
Can you help me to learn more?
(Other definitions for orion that I've seen before include "Greek hunter of myth or bright constellation" , "Mythical Greek hunter turned into constellation" , "Prominent constellation" , "Constellation named for great Greek hunter" , "Constellation with seven bright stars" .)