JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst sentiment is favorable: Seven firms give JOYY a consensus “Moderate Buy” rating, with six buys and one hold. The average 12-month price target is $83.40, above the reported $80.25 share price.
• JOYY raised its quarterly dividend to $1.55 per share, implying a $6.20 annualized payout and a 7.7% yield. However, its dividend payout ratio is high at 142.72%.
• Institutional investors and hedge funds own 36.83% of JOYY, while the stock has risen near its 12-month high, trading between $54.24 and $81.25 over the period.

JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $83.40.

A number of research firms have weighed in on JOYY. Jefferies Financial Group reissued a "buy" rating and issued a $87.00 target price on shares of JOYY in a research note on Wednesday, August 26th. Benchmark reaffirmed a "buy" rating on shares of JOYY in a report on Wednesday, August 26th. Morgan Stanley set a $74.00 price objective on JOYY in a research report on Wednesday, August 26th. Weiss Ratings raised JOYY from a "hold (c-)" rating to a "buy (b)" rating in a research note on Friday, August 28th. Finally, Citigroup restated a "buy" rating on shares of JOYY in a report on Wednesday, July 22nd.

Institutional Investors Weigh In On JOYY

Several hedge funds and other institutional investors have recently bought and sold shares of JOYY. SG Americas Securities LLC grew its holdings in shares of JOYY by 49.9% during the 1st quarter. SG Americas Securities LLC now owns 112,466 shares of the company's stock worth $6,567,000 after purchasing an additional 37,451 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in JOYY in the 4th quarter valued at about $392,000. Handelsbanken Fonder AB lifted its position in JOYY by 67.5% in the second quarter. Handelsbanken Fonder AB now owns 12,900 shares of the company's stock valued at $851,000 after buying an additional 5,200 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in JOYY during the first quarter worth about $281,000. Finally, DGS Capital Management LLC acquired a new stake in shares of JOYY during the fourth quarter valued at about $232,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Trading Down 0.4%

Shares of NASDAQ JOYY opened at $80.25 on Thursday. JOYY has a 12-month low of $54.24 and a 12-month high of $81.25. The stock has a market cap of $3.93 billion, a PE ratio of 19.15 and a beta of 0.45. The company has a 50-day moving average of $75.60 and a 200 day moving average of $67.48.

JOYY Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 7.7%. 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. JOYY's dividend payout ratio is presently 142.72%.

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.

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