JOYY (NASDAQ:JOYY) Research Coverage Started at UBS Group

UBS Group started coverage on shares of JOYY (NASDAQ:JOYY) in a research report sent to investors on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $80.00 price objective on the stock.

Other equities analysts also recently issued research reports about the company. Citigroup upped their target price on JOYY from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of JOYY in a report on Thursday, January 22nd. Wall Street Zen downgraded JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Morgan Stanley set a $66.00 price objective on JOYY in a research report on Monday, November 24th. Finally, Zacks Research downgraded JOYY from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, JOYY currently has a consensus rating of “Moderate Buy” and an average target price of $74.67.

JOYY Stock Up 0.8%

JOYY stock opened at $61.74 on Wednesday. The company’s 50-day moving average price is $64.30 and its two-hundred day moving average price is $62.06. The stock has a market cap of $3.17 billion, a P/E ratio of 1.58 and a beta of 0.36. JOYY has a twelve month low of $37.53 and a twelve month high of $70.96.

JOYY Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Wednesday, April 22nd will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Wednesday, April 22nd. JOYY’s payout ratio is presently 9.89%.

Institutional Investors Weigh In On JOYY

A number of large investors have recently added to or reduced their stakes in the stock. Stonehill Capital Management LLC bought a new position in JOYY during the 3rd quarter worth $80,885,000. Public Employees Retirement System of Ohio bought a new stake in shares of JOYY during the 3rd quarter valued at $9,204,000. New York State Common Retirement Fund lifted its position in shares of JOYY by 8.8% during 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 period. SG Americas Securities LLC grew its holdings in shares of JOYY by 1,336.8% during the 4th quarter. SG Americas Securities LLC now owns 75,015 shares of the company’s stock worth $4,858,000 after purchasing an additional 69,794 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of JOYY in the third quarter worth $1,189,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

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.