JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $83.40.

A number of research firms have recently weighed in on JOYY. Morgan Stanley set a $74.00 price target on shares of JOYY in a report on Wednesday, August 26th. Jefferies Financial Group restated a “buy” rating and issued a $87.00 price target on shares of JOYY in a research report on Wednesday, August 26th. JPMorgan Chase & Co. upgraded JOYY from a “neutral” rating to an “overweight” rating and upped their target price for the company from $35.00 to $98.00 in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Finally, Benchmark reaffirmed a “buy” rating on shares of JOYY in a report on Wednesday, August 26th.

JOYY Stock Up 0.8%

JOYY stock opened at $81.33 on Thursday. JOYY has a 12 month low of $54.24 and a 12 month high of $81.70. The company’s fifty day simple moving average is $76.24 and its 200-day simple moving average is $68.17. The stock has a market cap of $3.98 billion, a P/E ratio of 19.41 and a beta of 0.38.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from JOYY’s previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a dividend yield of 7.6%. JOYY’s dividend payout ratio (DPR) is 147.49%.

Hedge Funds Weigh In On JOYY

Institutional investors and hedge funds have recently bought and sold shares of the business. DGS Capital Management LLC boosted its holdings in JOYY by 5.9% in the first quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock valued at $221,000 after acquiring an additional 211 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in JOYY by 167.7% in the first 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 acquired a new stake in JOYY during the 2nd quarter worth $63,000. Integrated Wealth Concepts LLC bought a new stake in shares of JOYY in the second quarter worth about $65,000. Finally, Nykredit A S acquired a new stake in shares of JOYY during the second quarter worth about $110,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Company Profile

JOYY Inc (NASDAQ: JOYY) is a global technology company that operates social media, live-streaming and digital entertainment platforms. The company’s services enable users to create and share content, communicate in real time, and participate in online communities through video, audio and messaging formats.

JOYY’s portfolio has included BIGO Live, a live-streaming platform; Likee, a short-form video and social networking application; and imo, an instant messaging and communications service.