JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Sees Large Drop in Short Interest

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 748,932 shares, a decrease of 26.7% from the March 15th total of 1,021,755 shares. Based on an average daily volume of 471,053 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.6% of the company’s shares are sold short.

JOYY Stock Performance

Shares of JOYY stock traded up $0.91 during trading on Wednesday, hitting $63.07. The company’s stock had a trading volume of 207,254 shares, compared to its average volume of 339,621. The company has a fifty day simple moving average of $60.57 and a two-hundred day simple moving average of $62.00. The company has a market capitalization of $3.15 billion, a PE ratio of 12.79 and a beta of 0.42. JOYY has a 52 week low of $38.40 and a 52 week high of $70.96.

JOYY (NASDAQ:JOYY) last issued its quarterly earnings results on Saturday, February 14th. The company reported $1.34 earnings per share (EPS) for the quarter. The company had revenue of $581.92 million during the quarter. JOYY had a net margin of 98.79% and a return on equity of 3.93%.

JOYY Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Wednesday, April 22nd will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date is Wednesday, April 22nd. JOYY’s dividend payout ratio (DPR) is currently 9.89%.

Institutional Trading of JOYY

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Stonehill Capital Management LLC bought a new stake in JOYY during the 3rd quarter valued at about $80,885,000. Public Employees Retirement System of Ohio bought a new stake in JOYY during the 3rd quarter valued at about $9,204,000. New York State Common Retirement Fund increased its stake in JOYY by 8.8% during the 4th quarter. New York State Common Retirement Fund now owns 138,555 shares of the company’s stock valued at $8,973,000 after purchasing an additional 11,200 shares in the last quarter. SG Americas Securities LLC increased its stake in JOYY by 1,336.8% during the 4th quarter. SG Americas Securities LLC now owns 75,015 shares of the company’s stock valued at $4,858,000 after purchasing an additional 69,794 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of JOYY during the 3rd quarter valued at about $1,189,000. 36.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on JOYY. UBS Group began coverage on shares of JOYY in a report on Wednesday, March 11th. They issued a “buy” rating and a $80.00 price objective for the company. Weiss Ratings restated a “hold (c-)” rating on shares of JOYY in a report on Thursday, January 22nd. Citigroup increased their price target on shares of JOYY from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Zacks Research lowered shares of JOYY from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 19th. Finally, Wall Street Zen lowered shares of JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, JOYY currently has an average rating of “Hold” and a consensus target price of $74.67.

JOYY Company Profile

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.