198,203 Shares of JOYY Inc. Sponsored ADR $JOYY Bought by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings purchased 198,203 JOYY shares worth approximately $15.9 million, giving it a 0.40% stake. Institutional investors collectively own 36.83% of the company.
• Analysts remain broadly bullish, with six Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $83.40.
• JOYY recently increased its quarterly dividend to $1.55 per share, equivalent to a $6.20 annualized payout and a 7.3% yield, though its payout ratio is high at 147.49%.

Crossmark Global Holdings Inc. bought a new position in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 198,203 shares of the company's stock, valued at approximately $15,906,000. Crossmark Global Holdings Inc. owned about 0.40% of JOYY at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of JOYY. Vann Equity Management LLC purchased a new position in shares of JOYY during the 3rd quarter worth approximately $271,000. Integrated Wealth Concepts LLC acquired a new position in shares of JOYY during the 2nd quarter worth approximately $65,000. Nykredit A S acquired a new position in shares of JOYY during the 2nd quarter worth approximately $110,000. Ramsey Quantitative Systems acquired a new position in shares of JOYY during the 2nd quarter worth approximately $63,000. Finally, Handelsbanken Fonder AB lifted its stake in JOYY by 67.5% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Jefferies Financial Group reiterated a "buy" rating and set a $87.00 target price on shares of JOYY in a report on Wednesday, August 26th. Weiss Ratings raised JOYY from a "hold (c-)" rating to a "buy (b)" rating in a research report on Friday, August 28th. Benchmark reissued 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 report on Wednesday, August 26th. Finally, Citigroup restated a "buy" rating on shares of JOYY in a research report on Wednesday, July 22nd. Six 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.com, JOYY has a consensus rating of "Moderate Buy" and a consensus price target of $83.40.

JOYY Price Performance

JOYY stock opened at $84.56 on Thursday. The stock has a market capitalization of $4.14 billion, a P/E ratio of 20.18 and a beta of 0.38. JOYY Inc. Sponsored ADR has a 12-month low of $54.24 and a 12-month high of $85.15. The firm's 50-day moving average is $77.96 and its two-hundred day moving average is $69.92.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from JOYY's previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a dividend yield of 7.3%. JOYY's payout ratio is currently 147.49%.

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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