Crossmark Global Holdings Inc. bought a new stake in JOYY Inc. Sponsored ADR (NASDAQ:JOYY – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 198,203 shares of the company’s stock, valued at approximately $15,906,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position in JOYY by 167.7% during the first quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock worth $36,000 after buying an additional 384 shares during the period. Ramsey Quantitative Systems purchased a new stake in JOYY in the 2nd quarter valued at about $63,000. Integrated Wealth Concepts LLC purchased a new stake in JOYY in the 2nd quarter valued at about $65,000. Nykredit A S purchased a new stake in JOYY in the 2nd quarter valued at about $110,000. Finally, Vann Equity Management LLC acquired a new position in shares of JOYY during the 3rd quarter valued at about $271,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
JOYY has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating on shares of JOYY in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a report on Friday, August 28th. Morgan Stanley set a $74.00 price target on shares of JOYY in a research report on Wednesday, August 26th. Benchmark reaffirmed a “buy” rating on shares of JOYY in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $87.00 price target on shares of JOYY in a research note on Wednesday, August 26th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.40.
Get Our Latest Research Report on JOYY
JOYY Trading Down 0.4%
Shares of JOYY stock opened at $84.56 on Thursday. JOYY Inc. Sponsored ADR has a twelve month low of $54.24 and a twelve month high of $85.15. The stock has a market capitalization of $4.14 billion, a P/E ratio of 20.18 and a beta of 0.38. The business’s fifty day moving average price is $77.96 and its 200 day moving average price is $69.92.
JOYY Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were paid a dividend of $1.55 per share. This is a boost from JOYY’s previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a yield of 7.3%. The ex-dividend date was Wednesday, September 30th. JOYY’s payout ratio is currently 147.49%.
About JOYY
JOYY Inc (NASDAQ: JOYY) is a global technology company that operates video-based social media and live-streaming platforms. The company’s services enable users to share live video, create and view short-form content, communicate through messaging and voice services, and participate in online communities.
JOYY’s principal products include BIGO LIVE, a live-streaming platform; Likee, a short-form video and creation platform; and imo, an instant messaging and voice and video communication service.
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