JOYY (NASDAQ:JOYY) Sets New 52-Week High – What’s Next?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $82.15 and last traded at $81.1950, with a volume of 456,505 shares. The stock had previously closed at $81.05.

Wall Street Analyst Weigh In

JOYY has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating on shares of JOYY in a report on Wednesday, August 26th. Morgan Stanley set a $74.00 target price on shares of JOYY in a report on Wednesday, August 26th. Weiss Ratings upgraded shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Citigroup reiterated a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $87.00 price target on shares of JOYY in a report on Wednesday, August 26th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, JOYY has a consensus rating of “Moderate Buy” and a consensus target price of $83.40.

Get Our Latest Report on JOYY

JOYY Stock Performance

The firm has a market capitalization of $4.04 billion, a P/E ratio of 19.95 and a beta of 0.38. The stock has a 50-day moving average of $76.86 and a 200 day moving average of $68.83.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 7.5%. The ex-dividend date is Wednesday, September 30th. This is a positive change from JOYY’s previous quarterly dividend of $1.50. JOYY’s dividend payout ratio is presently 147.49%.

Hedge Funds Weigh In On JOYY

A number of institutional investors and hedge funds have recently bought and sold shares of JOYY. Vann Equity Management LLC bought a new position in shares of JOYY in the third quarter valued at about $271,000. Integrated Wealth Concepts LLC acquired a new position in JOYY during the 2nd quarter worth about $65,000. Nykredit A S acquired a new position in JOYY during the 2nd quarter worth about $110,000. Ramsey Quantitative Systems bought a new stake in JOYY during the 2nd quarter worth about $63,000. Finally, Handelsbanken Fonder AB grew its holdings in JOYY by 67.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 12,900 shares of the company’s stock worth $851,000 after acquiring an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Company Profile

(Get Free Report)

JOYY Inc (NASDAQ: JOYY) is a global technology company that operates social media, live-streaming and digital entertainment platforms. The company’s services enable users to create and share content, communicate in real time, and participate in online communities through video, audio and messaging formats.

JOYY’s portfolio has included BIGO Live, a live-streaming platform; Likee, a short-form video and social networking application; and imo, an instant messaging and communications service.

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