81,996 JOYY Inc. Sponsored ADR $JOYY Shares Sold by State Street Corp

Key Points

• State Street reduced its JOYY stake by 21.4% in the second quarter, selling 81,996 shares and retaining 300,354 shares valued at approximately $20.3 million. Institutional investors and hedge funds collectively own 36.83% of JOYY.
• Wall Street remains broadly positive: six analysts rate JOYY a Buy and one rates it Hold, giving the stock a “Moderate Buy” consensus and an average price target of $83.40.
• JOYY raised its quarterly dividend to $1.55 per share, equivalent to $6.20 annually and a 7.8% yield. Shares opened at $79.77, near their 12-month high of $81.25.

State Street Corp lessened its stake in JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Free Report) by 21.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 300,354 shares of the company's stock after selling 81,996 shares during the quarter. State Street Corp owned approximately 0.61% of JOYY worth $20,271,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC lifted its position in JOYY by 49.9% during the first 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. Handelsbanken Fonder AB grew its stake in shares of JOYY by 67.5% in the second quarter. Handelsbanken Fonder AB now owns 12,900 shares of the company's stock worth $851,000 after purchasing an additional 5,200 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of JOYY in the fourth quarter valued at about $392,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in JOYY in the first quarter valued at $281,000. Finally, DGS Capital Management LLC bought a new stake in shares of JOYY in the 4th quarter valued at $232,000. 36.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JOYY has been the topic of a number of recent analyst reports. Citigroup reiterated a "buy" rating on shares of JOYY in a report on Wednesday, July 22nd. Benchmark reaffirmed 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 note on Wednesday, August 26th. Jefferies Financial Group reaffirmed a "buy" rating and set a $87.00 price objective on shares of JOYY in a research note on Wednesday, August 26th. Finally, Weiss Ratings upgraded JOYY from a "hold (c-)" rating to a "buy (b)" rating in a report on Friday, August 28th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $83.40.

JOYY Trading Up 0.1%

NASDAQ:JOYY opened at $79.77 on Friday. JOYY Inc. Sponsored ADR has a 12 month low of $54.24 and a 12 month high of $81.25. The company has a market cap of $3.91 billion, a PE ratio of 19.04 and a beta of 0.45. The company has a 50 day simple moving average of $75.09 and a two-hundred day simple moving average of $67.02.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.55 per share. This is a positive change from JOYY's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.20 annualized dividend and a dividend yield of 7.8%. JOYY's payout ratio is currently 142.72%.

JOYY Profile

JOYY Inc NASDAQ: JOYY is a global social media and entertainment company that develops and operates live-streaming, short-form video, instant-messaging and online social platforms. Its services enable users to broadcast and watch live content, create and share videos, communicate with others, and participate in online communities.

JOYY's principal brands include Bigo Live, a live-streaming platform; Likee, a short-form video and social networking application; and imo, an instant-messaging and voice and video communication service.

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