JOYY (NASDAQ:JOYY) Stock Breaks Below 50-Day Moving Average – What’s Next?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY – Get Free Report) passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $80.01 and traded as low as $78.00. JOYY shares last traded at $78.74, with a volume of 268,900 shares trading hands.

Wall Street Analyst Weigh In

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

View Our Latest Stock Analysis on JOYY

JOYY Stock Performance

The stock has a market cap of $3.86 billion, a P/E ratio of 18.79 and a beta of 0.44. The business’s 50-day moving average price is $80.01 and its 200-day moving average price is $68.88.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 7.9%. This is a boost from JOYY’s previous quarterly dividend of $1.50. The ex-dividend date was Wednesday, September 30th. JOYY’s dividend payout ratio (DPR) is presently 147.49%.

Institutional Trading of JOYY

Several hedge funds have recently bought and sold shares of JOYY. First Trust Advisors LP purchased a new stake in JOYY in the third quarter worth about $17,825,000. Crossmark Global Holdings Inc. bought a new position in shares of JOYY in the third quarter worth about $15,906,000. North of South Capital LLP bought a new position in shares of JOYY in the third quarter worth about $6,537,000. OPTIMAS CAPITAL Ltd lifted its position in shares of JOYY by 90.7% during the 3rd quarter. OPTIMAS CAPITAL Ltd now owns 71,500 shares of the company’s stock valued at $5,738,000 after buying an additional 34,000 shares in the last quarter. Finally, Vest Financial LLC lifted its position in shares of JOYY by 21.9% during the 3rd quarter. Vest Financial LLC now owns 30,965 shares of the company’s stock valued at $2,485,000 after buying an additional 5,555 shares in the last quarter. Institutional investors own 36.83% of the company’s stock.

About JOYY

(Get Free Report)

JOYY Inc. is a Singapore-headquartered internet company focused on live streaming, short-form video and online communication. Its consumer platforms include Bigo Live, where users broadcast and watch live content; Likee, a short-video creation and sharing app; and imo, a messaging and voice and video calling service. The company’s roots are in China, where it began as an online social entertainment business. It adopted the JOYY name in 2019 as it expanded its focus beyond its original market. Its platforms serve users in numerous countries, with a presence in markets across Asia, the Middle East and other regions.

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