34,000 JOYY Inc. Sponsored ADR $JOYY Shares Purchased by OPTIMAS CAPITAL Ltd

Key Points

• OPTIMAS CAPITAL increased its JOYY stake by 90.7% in the third quarter, buying 34,000 shares to bring its holding to 71,500 shares, worth about $5.74 million.
• Several other institutional investors initiated JOYY positions during the quarter; institutional investors and hedge funds collectively own 36.83% of the company’s stock.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $83.40. JOYY also raised its quarterly dividend to $1.55 per share, equivalent to a 7.7% yield at the article’s cited share price.

OPTIMAS CAPITAL Ltd lifted its stake in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Free Report) by 90.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,500 shares of the company's stock after buying an additional 34,000 shares during the quarter. JOYY makes up about 7.6% of OPTIMAS CAPITAL Ltd's investment portfolio, making the stock its 8th largest holding. OPTIMAS CAPITAL Ltd owned approximately 0.15% of JOYY worth $5,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. CenterBook Partners LP bought a new stake in shares of JOYY in the 3rd quarter valued at approximately $2,292,000. AIA Group Ltd bought a new position in JOYY during the third quarter worth $2,257,000. Moody Aldrich Partners LLC bought a new position in JOYY during the third quarter worth $933,000. Asset Management One Co. Ltd. bought a new position in JOYY during the third quarter worth $2,383,000. Finally, Signaturefd LLC acquired a new position in JOYY in the third quarter worth $266,000. Institutional investors and hedge funds own 36.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on JOYY shares. Benchmark reiterated a "buy" rating on shares of 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 note on Friday, August 28th. Jefferies Financial Group restated a "buy" rating and issued a $87.00 target price on shares of JOYY in a research note on Wednesday, August 26th. JPMorgan Chase & Co. raised JOYY from a "neutral" rating to an "overweight" rating and upped their target price for the company from $35.00 to $98.00 in a report on Wednesday, August 12th. Finally, Citigroup reiterated a "buy" rating on shares of JOYY in a research report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, JOYY has a consensus rating of "Moderate Buy" and an average target price of $83.40.

JOYY Stock Up 1.1%

NASDAQ JOYY traded up $0.91 on Friday, reaching $80.91. 269,001 shares of the stock traded hands, compared to its average volume of 269,114. The firm's fifty day simple moving average is $79.53 and its 200 day simple moving average is $68.64. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 19.31 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.

JOYY Increases Dividend

The company 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 is a boost from JOYY's previous quarterly dividend of $1.50. The ex-dividend date was Wednesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 7.7%. JOYY's payout ratio 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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