JOYY (NASDAQ:JOYY) Hits New 12-Month High – What’s Next?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY)’s stock price hit a new 52-week high on Monday . The stock traded as high as $72.09 and last traded at $71.48, with a volume of 29973 shares. The stock had previously closed at $70.07.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.67.

JOYY Stock Performance

The stock has a market cap of $3.59 billion, a PE ratio of 16.68 and a beta of 0.46. The stock has a fifty day moving average price of $65.82 and a 200 day moving average price of $63.47.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 29th. This is a positive change from JOYY’s previous quarterly dividend of $1.38. This represents a $6.00 annualized dividend and a yield of 8.3%. JOYY’s payout ratio is presently 138.75%.

Institutional Investors Weigh In On JOYY

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sittner & Nelson LLC purchased a new position in shares of JOYY during the 3rd quarter worth about $29,000. EverSource Wealth Advisors LLC raised its position in JOYY by 167.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock worth $36,000 after purchasing an additional 384 shares during the period. Ramsey Quantitative Systems purchased a new stake in JOYY in the 2nd quarter worth about $63,000. DGS Capital Management LLC bought a new stake in JOYY in the fourth quarter worth about $232,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in JOYY in the first quarter worth about $281,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

About JOYY

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.