JOYY (NASDAQ:JOYY) Trading 2.6% Higher – Time to Buy?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) was up 2.6% on Wednesday . The stock traded as high as $60.62 and last traded at $60.27. Approximately 361,002 shares changed hands during trading, an increase of 35% from the average daily volume of 267,387 shares. The stock had previously closed at $58.75.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on JOYY shares. UBS Group started coverage on JOYY in a research report on Wednesday, March 11th. They set a “buy” rating and a $80.00 target price on the stock. Citigroup increased their target price on JOYY from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Zacks Research downgraded JOYY from a “hold” rating to a “strong sell” rating in a report on Thursday, March 19th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of JOYY in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, JOYY currently has a consensus rating of “Hold” and a consensus price target of $74.67.

JOYY Stock Performance

The business has a fifty day moving average price of $59.85 and a 200 day moving average price of $62.22. The company has a market capitalization of $3.01 billion, a PE ratio of 1.54 and a beta of 0.42.

JOYY (NASDAQ:JOYY) last released its quarterly earnings data on Saturday, February 14th. The company reported $1.34 EPS for the quarter. The company had revenue of $581.92 million for the quarter. JOYY had a return on equity of 3.93% and a net margin of 98.79%. Research analysts forecast that JOYY Inc. Sponsored ADR will post 4.79 earnings per share for the current fiscal year.

JOYY Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Wednesday, April 22nd will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 9.2%. The ex-dividend date is Wednesday, April 22nd. JOYY’s dividend payout ratio (DPR) is presently 14.09%.

Institutional Investors Weigh In On JOYY

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new stake in shares of JOYY during the 3rd quarter valued at about $27,000. Sittner & Nelson LLC purchased a new stake in shares of JOYY during the 3rd quarter valued at about $29,000. Farther Finance Advisors LLC purchased a new stake in shares of JOYY during the 3rd quarter valued at about $35,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of JOYY during the 3rd quarter valued at about $87,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of JOYY during the 3rd quarter valued at about $142,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

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.