JOYY (NASDAQ:JOYY) Hits New 12-Month High – Time to Buy?

JOYY Inc. Sponsored ADR (NASDAQ:JOYYGet Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $75.25 and last traded at $74.99, with a volume of 14641 shares traded. The stock had previously closed at $73.95.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on JOYY shares. Zacks Research raised JOYY from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Citigroup reaffirmed a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

Read Our Latest Stock Report on JOYY

JOYY Stock Performance

The stock has a market cap of $3.75 billion, a PE ratio of 17.44 and a beta of 0.46. The company’s 50-day moving average price is $66.74 and its 200 day moving average price is $63.63.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $6.00 annualized dividend and a yield of 8.0%. This is an increase from JOYY’s previous quarterly dividend of $1.38. JOYY’s dividend payout ratio is presently 138.75%.

Institutional Trading of JOYY

Several hedge funds have recently modified their holdings of the stock. DGS Capital Management LLC boosted its stake in shares of JOYY by 5.9% in the 1st quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock valued at $221,000 after buying an additional 211 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of JOYY by 167.7% in the first quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock valued at $36,000 after buying an additional 384 shares during the last quarter. Sittner & Nelson LLC acquired a new stake in shares of JOYY during the third quarter worth $29,000. Ramsey Quantitative Systems purchased a new position in JOYY during the second quarter worth about $63,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of JOYY in the 1st quarter valued at approximately $281,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Company Profile

(Get Free Report)

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.

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