JOYY (NASDAQ:JOYY) Hits New 12-Month High – Still a Buy?

JOYY Inc. Sponsored ADR (NASDAQ:JOYYGet Free Report)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $80.94 and last traded at $81.0450, with a volume of 288427 shares changing hands. The stock had previously closed at $79.54.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup reiterated a “buy” rating on shares of JOYY in a research note on Wednesday, July 22nd. Benchmark restated a “buy” rating on shares of JOYY in a report on Wednesday, August 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $87.00 target price on shares of JOYY in a 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. Finally, Weiss Ratings upgraded shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.40.

Read Our Latest Analysis on JOYY

JOYY Stock Performance

The firm’s 50 day simple moving average is $74.69 and its 200-day simple moving average is $66.79. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 19.18 and a beta of 0.45.

JOYY Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be issued a $1.55 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 7.7%. This is a positive change from JOYY’s previous quarterly dividend of $1.50. JOYY’s dividend payout ratio is currently 142.72%.

Institutional Trading of JOYY

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC increased its stake in JOYY by 49.9% in the 1st quarter. SG Americas Securities LLC now owns 112,466 shares of the company’s stock valued at $6,567,000 after buying an additional 37,451 shares during the period. Atlas Capital Advisors Inc. bought a new stake in JOYY during the fourth quarter valued at about $392,000. Handelsbanken Fonder AB grew its stake in shares of JOYY by 67.5% in the second 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. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of JOYY during the first quarter valued at approximately $281,000. Finally, DGS Capital Management LLC acquired a new position in JOYY in the fourth quarter worth about $232,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

About JOYY

(Get Free Report)

JOYY Inc (NASDAQ: JOYY) is a global social media and entertainment company that develops and operates live-streaming, short-form video, instant-messaging and online social platforms. Its services enable users to broadcast and watch live content, create and share videos, communicate with others, and participate in online communities.

JOYY’s principal brands include Bigo Live, a live-streaming platform; Likee, a short-form video and social networking application; and imo, an instant-messaging and voice and video communication service.

Further Reading

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