29,690 Shares of JOYY Inc. Sponsored ADR $JOYY Acquired by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. acquired 29,690 JOYY shares in the third quarter, valued at approximately $2.38 million. Institutional investors and hedge funds collectively own 36.83% of the company.
• Analysts remain generally bullish: six rate JOYY a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $83.40.
• JOYY shares opened at $79.33, near their 50-day average, while the company raised its quarterly dividend to $1.55 per share, or $6.20 annualized, for a 7.8% yield.

Asset Management One Co. Ltd. purchased a new position in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 29,690 shares of the company's stock, valued at approximately $2,383,000. Asset Management One Co. Ltd. owned approximately 0.06% of JOYY at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in shares of JOYY in the third quarter valued at approximately $31,000. EverSource Wealth Advisors LLC increased its stake 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 acquiring an additional 384 shares during the period. Ramsey Quantitative Systems acquired a new position in shares of JOYY during the third quarter valued at approximately $45,000. Integrated Wealth Concepts LLC bought a new stake in JOYY during the second quarter worth approximately $65,000. Finally, Nykredit A S bought a new stake in JOYY during the second quarter worth approximately $110,000. 36.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on JOYY. Benchmark restated a "buy" rating on shares of JOYY in a research report on Wednesday, August 26th. Morgan Stanley set a $74.00 price target on JOYY in a research note on Wednesday, August 26th. Weiss Ratings upgraded JOYY from a "hold (c-)" rating to a "buy (b)" rating in a research report on Friday, August 28th. Citigroup reissued a "buy" rating on shares of JOYY in a research note on Wednesday, July 22nd. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $87.00 price objective on shares of JOYY in a research note on Wednesday, August 26th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.40.

JOYY Price Performance

Shares of JOYY opened at $79.33 on Tuesday. The firm's 50 day moving average is $79.06 and its 200-day moving average is $68.42. The stock has a market capitalization of $3.88 billion, a P/E ratio of 18.30 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.

JOYY Increases Dividend

The firm also recently announced 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. This is a boost from JOYY's previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Wednesday, September 30th. JOYY's dividend payout ratio (DPR) is currently 147.49%.

About JOYY

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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