JOYY (NASDAQ:JOYY) Sets New 52-Week High – Should You Buy?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) shares hit a new 52-week high on Monday . The company traded as high as $75.25 and last traded at $74.99, with a volume of 14641 shares changing hands. The stock had previously closed at $73.95.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on JOYY shares. Citigroup restated a “buy” rating on shares of JOYY in a research note on Wednesday, July 22nd. Zacks Research upgraded JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.67.

JOYY Trading Up 0.0%

The firm’s fifty day moving average price is $67.45 and its 200 day moving average price is $63.75. The firm has a market capitalization of $3.74 billion, a PE ratio of 17.36 and a beta of 0.46.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $6.00 annualized dividend and a yield of 8.0%. This is an increase from JOYY’s previous quarterly dividend of $1.38. JOYY’s payout ratio is 138.75%.

Hedge Funds Weigh In On JOYY

Several institutional investors and hedge funds have recently modified their holdings of JOYY. Ramsey Quantitative Systems acquired a new position in JOYY in the second quarter valued at approximately $63,000. Handelsbanken Fonder AB increased its holdings in shares of JOYY by 67.5% during 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of JOYY by 167.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock valued at $36,000 after purchasing an additional 384 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of JOYY in the 1st quarter valued at $281,000. Finally, DGS Capital Management LLC boosted its holdings in JOYY by 5.9% during the first quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock worth $221,000 after buying an additional 211 shares in the last quarter. 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.