Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY – Get Free Report) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $78.82 and traded as high as $81.12. JOYY shares last traded at $80.83, with a volume of 366,442 shares.
Analyst Upgrades and Downgrades
JOYY has been the subject of several recent research reports. 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 reaffirmed a “buy” rating on shares of JOYY in a report on Wednesday, July 22nd. Jefferies Financial Group restated a “buy” rating and set a $87.00 target price on shares of JOYY in a research note 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, Benchmark reissued a “buy” rating on shares of JOYY in a report on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, JOYY currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.40.
Get Our Latest Stock Report on JOYY
JOYY Trading Down 0.6%
The company has a market cap of $3.93 billion, a PE ratio of 19.17 and a beta of 0.38. The company’s 50 day moving average is $78.95 and its 200 day moving average is $68.38.
JOYY Increases Dividend
The company 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. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from JOYY’s previous quarterly dividend of $1.50. This represents a $6.20 dividend on an annualized basis and a yield of 7.7%. JOYY’s dividend payout ratio is currently 147.49%.
Hedge Funds Weigh In On JOYY
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. acquired a new stake in JOYY during the third quarter worth about $15,906,000. Vest Financial LLC increased its stake in JOYY by 21.9% during the third quarter. Vest Financial LLC now owns 30,965 shares of the company’s stock worth $2,485,000 after acquiring an additional 5,555 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in JOYY in the third quarter valued at $2,383,000. AIA Group Ltd purchased a new stake in JOYY in the third quarter valued at $2,257,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of JOYY by 67.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 12,900 shares of the company’s stock valued at $851,000 after purchasing an additional 5,200 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.
JOYY Company Profile
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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