JOYY Inc. Sponsored ADR (NASDAQ:JOYY – Get Free Report)’s share price hit a new 52-week high on Thursday . The company traded as high as $71.60 and last traded at $70.22, with a volume of 343 shares trading hands. The stock had previously closed at $70.28.
Wall Street Analysts Forecast Growth
JOYY has been the subject of several research analyst reports. UBS Group initiated coverage on shares of JOYY in a report on Wednesday, March 11th. They set a “buy” rating and a $80.00 price target for the company. Zacks Research upgraded JOYY from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, JOYY presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.67.
View Our Latest Stock Analysis on JOYY
JOYY Stock Performance
JOYY Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 8.6%. This is a boost from JOYY’s previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 29th. JOYY’s dividend payout ratio (DPR) is presently 138.75%.
Institutional Trading of JOYY
Institutional investors and hedge funds have recently bought and sold shares of the stock. Stonehill Capital Management LLC acquired a new position in JOYY during the 3rd quarter worth about $80,885,000. Public Employees Retirement System of Ohio acquired a new stake in shares of JOYY in the third quarter valued at about $9,204,000. SG Americas Securities LLC raised its position in shares of JOYY by 1,336.8% during the fourth quarter. SG Americas Securities LLC now owns 75,015 shares of the company’s stock worth $4,858,000 after acquiring an additional 69,794 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of JOYY by 8.8% during the fourth quarter. New York State Common Retirement Fund now owns 138,555 shares of the company’s stock worth $8,973,000 after acquiring an additional 11,200 shares during the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in shares of JOYY in the third quarter worth approximately $442,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.
About JOYY
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.
Read More
- Five stocks we like better than JOYY
- Catching the AI Wave: DigitalOcean Reels in AI Whales
- Rivian’s 75 Million-Share Offering Turns the R2 Growth Story Into a Dilution Test
- Sony Is Going All-Digital—But Investors Should Watch This Instead
- Scotiabank Sees a New Growth Story for Cloudflare
Receive News & Ratings for JOYY Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JOYY and related companies with MarketBeat.com's FREE daily email newsletter.
