JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $80.50.

A number of research firms have recently weighed in on JOYY. JPMorgan Chase & Co. upgraded JOYY from a “neutral” rating to an “overweight” rating and set a $98.00 target price for the company in a research report on Wednesday. Citigroup restated a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Finally, Zacks Research raised shares of JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. acquired a new stake in shares of JOYY during the third quarter worth $442,000. Public Employees Retirement System of Ohio bought a new position in JOYY during the third quarter worth about $9,204,000. Sittner & Nelson LLC bought a new position in JOYY during the third quarter worth about $29,000. Stonehill Capital Management LLC acquired a new position in shares of JOYY during the 3rd quarter worth about $80,885,000. Finally, New York State Common Retirement Fund increased its stake in shares of JOYY by 8.8% in the 4th quarter. New York State Common Retirement Fund now owns 138,555 shares of the company’s stock valued at $8,973,000 after acquiring an additional 11,200 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors.

JOYY Trading Up 2.1%

Shares of JOYY stock traded up $1.54 during midday trading on Wednesday, reaching $74.95. The company had a trading volume of 36,359 shares, compared to its average volume of 330,559. The stock has a fifty day simple moving average of $69.85 and a 200 day simple moving average of $64.12. JOYY has a 1-year low of $48.53 and a 1-year high of $76.68. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 17.39 and a beta of 0.47.

JOYY Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $6.00 dividend on an annualized basis and a yield of 8.0%. This is a boost from JOYY’s previous quarterly dividend of $1.38. JOYY’s dividend payout ratio (DPR) is presently 138.75%.

JOYY Company Profile

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.