JOYY Inc. Sponsored ADR (NASDAQ:JOYY – Get Free Report)’s share price reached a new 52-week high on Tuesday. The stock traded as high as $85.15 and last traded at $84.8980, with a volume of 416,282 shares changing hands. The stock had previously closed at $83.96.
Analyst Ratings Changes
A number of brokerages have recently issued reports on JOYY. Citigroup restated a “buy” rating on shares of JOYY in a report on Wednesday, July 22nd. Morgan Stanley set a $74.00 target price on JOYY in a research report on Wednesday, August 26th. Benchmark reiterated a “buy” rating on shares of JOYY in a research note on Wednesday, August 26th. Jefferies Financial Group reissued a “buy” rating and set a $87.00 price target on shares of JOYY in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. raised JOYY from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $35.00 to $98.00 in a report on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, JOYY presently has an average rating of “Moderate Buy” and a consensus price target of $83.40.
Read Our Latest Research Report on JOYY
JOYY Trading Down 0.4%
The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 20.18 and a beta of 0.38. The firm’s 50 day simple moving average is $77.96 and its two-hundred day simple moving average is $69.92.
JOYY Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were issued a dividend of $1.55 per share. This is a boost from JOYY’s previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend was Wednesday, September 30th. JOYY’s payout ratio is 147.49%.
Institutional Investors Weigh In On JOYY
Several institutional investors have recently made changes to their positions in the stock. DGS Capital Management LLC grew its position 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. EverSource Wealth Advisors LLC raised its holdings in JOYY by 167.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock valued at $36,000 after acquiring an additional 384 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in JOYY in the 3rd quarter valued at $31,000. Ramsey Quantitative Systems acquired a new position in JOYY in the 2nd quarter valued at $63,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of JOYY during the 2nd quarter valued at $65,000. 36.83% of the stock is currently owned by institutional investors.
JOYY Company Profile
JOYY Inc (NASDAQ: JOYY) is a global technology company that operates video-based social media and live-streaming platforms. The company’s services enable users to share live video, create and view short-form content, communicate through messaging and voice services, and participate in online communities.
JOYY’s principal products include BIGO LIVE, a live-streaming platform; Likee, a short-form video and creation platform; and imo, an instant messaging and voice and video communication service.
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