JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a Moderate Buy consensus on JOYY, with six buy ratings and one hold among seven analysts. The average 12-month price target is $83.40, above the stock’s reported $75.00 price.
• Institutional investors and hedge funds own 36.83% of JOYY, with several large investors initiating or increasing positions during recent quarters.
• JOYY raised its quarterly dividend to $1.55 per share, equivalent to a $6.20 annualized payout and an 8.3% yield, although its 147.49% payout ratio exceeds reported earnings.

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Get Free Report) have earned an average rating of "Moderate Buy" from the seven brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $83.40.

A number of analysts have recently issued reports on JOYY shares. Benchmark restated a "buy" rating on shares of JOYY in a report on Wednesday, August 26th. Morgan Stanley set a $74.00 price target on JOYY in a research report on Wednesday, August 26th. Zacks Research raised JOYY from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. Citigroup restated a "buy" rating on shares of JOYY in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $87.00 target price on shares of JOYY in a research note on Wednesday, August 26th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. acquired a new stake in shares of JOYY during the 3rd quarter valued at $442,000. Public Employees Retirement System of Ohio acquired a new position in shares of JOYY in the third quarter worth $9,204,000. Sittner & Nelson LLC purchased a new stake in shares of JOYY during the third quarter worth $29,000. Stonehill Capital Management LLC purchased a new stake in shares of JOYY during the third quarter worth $80,885,000. Finally, New York State Common Retirement Fund boosted its position in JOYY by 8.8% during 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 purchasing an additional 11,200 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Performance

JOYY stock opened at $75.00 on Friday. The company has a 50 day moving average price of $72.46 and a 200 day moving average price of $65.27. JOYY has a 52 week low of $54.24 and a 52 week high of $80.90. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 17.90 and a beta of 0.45.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.55 per share. This is an increase from JOYY's previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Wednesday, September 30th. JOYY's dividend payout ratio is 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.

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