North of South Capital LLP Makes New Investment in JOYY Inc. Sponsored ADR $JOYY

North of South Capital LLP bought a new position in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 81,458 shares of the company’s stock, valued at approximately $6,537,000. JOYY comprises approximately 0.5% of North of South Capital LLP’s portfolio, making the stock its 16th largest position.

A number of other large investors have also bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in JOYY in the third quarter worth $31,000. EverSource Wealth Advisors LLC raised its holdings in shares of JOYY by 167.7% during the first quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock valued at $36,000 after purchasing an additional 384 shares during the period. Ramsey Quantitative Systems acquired a new position in shares of JOYY during the third quarter valued at about $45,000. Integrated Wealth Concepts LLC acquired a new position in shares of JOYY during the second quarter valued at about $65,000. Finally, Nykredit A S bought a new position in shares of JOYY during the 2nd quarter worth about $110,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Trading Up 2.4%

Shares of NASDAQ:JOYY traded up $1.91 during mid-day trading on Friday, hitting $80.65. 225,557 shares of the company traded hands, compared to its average volume of 264,571. The stock has a market cap of $3.95 billion, a P/E ratio of 19.25 and a beta of 0.44. JOYY Inc. Sponsored ADR has a 12-month low of $54.24 and a 12-month high of $85.15. The stock has a 50-day moving average price of $80.13 and a two-hundred day moving average price of $68.95.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Wednesday, September 30th. This is an increase from JOYY’s previous quarterly dividend of $1.50. JOYY’s payout ratio is currently 147.49%.

Analyst Ratings Changes

Several brokerages have recently commented on JOYY. JPMorgan Chase & Co. upgraded JOYY from a “neutral” rating to an “overweight” rating and raised their target price for the company from $35.00 to $98.00 in a research note on Wednesday, August 12th. Weiss Ratings raised JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Benchmark reaffirmed a “buy” rating on shares of JOYY in a research note on Wednesday, August 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $87.00 price target on shares of JOYY in a report on Wednesday, August 26th. Finally, Citigroup reissued a “buy” rating on shares of JOYY in a research note on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, JOYY has a consensus rating of “Moderate Buy” and a consensus target price of $83.40.

About JOYY

JOYY Inc. is a Singapore-headquartered internet company focused on live streaming, short-form video and online communication. Its consumer platforms include Bigo Live, where users broadcast and watch live content; Likee, a short-video creation and sharing app; and imo, a messaging and voice and video calling service. The company’s roots are in China, where it began as an online social entertainment business. It adopted the JOYY name in 2019 as it expanded its focus beyond its original market. Its platforms serve users in numerous countries, with a presence in markets across Asia, the Middle East and other regions.