Maven Securities LTD Has $6.67 Million Position in JOYY Inc. Sponsored ADR $JOYY

Maven Securities LTD reduced its position in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) by 44.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,039 shares of the company’s stock after selling 82,014 shares during the period. Maven Securities LTD’s holdings in JOYY were worth $6,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. bought a new position in JOYY during the 3rd quarter worth $442,000. Public Employees Retirement System of Ohio bought a new stake in shares of JOYY in the third quarter valued at about $9,204,000. Sittner & Nelson LLC bought a new stake in shares of JOYY in the third quarter valued at about $29,000. Stonehill Capital Management LLC acquired a new position in shares of JOYY in the third quarter valued at about $80,885,000. Finally, New York State Common Retirement Fund grew its stake in shares of JOYY by 8.8% in the fourth 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 in the last quarter. 36.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JOYY has been the subject of several analyst reports. Weiss Ratings upgraded shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Citigroup restated a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Benchmark reaffirmed a “buy” rating on shares of JOYY in a report on Wednesday, August 26th. Morgan Stanley set a $74.00 price target on shares of JOYY in a research report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. upgraded JOYY from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $98.00 in a research note on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.40.

JOYY Stock Performance

Shares of NASDAQ JOYY opened at $74.36 on Wednesday. The stock has a market capitalization of $3.64 billion, a P/E ratio of 17.75 and a beta of 0.45. The stock’s fifty day moving average is $72.81 and its 200 day moving average is $65.49. JOYY Inc. Sponsored ADR has a 52 week low of $54.24 and a 52 week high of $80.90.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.55 per share. The ex-dividend date is 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 8.3%. JOYY’s dividend payout ratio is currently 147.49%.

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.