Maven Securities LTD Has $6.67 Million Stock Position in JOYY Inc. Sponsored ADR $JOYY

Key Points

• Maven Securities reduced its JOYY stake by 44.8% in the second quarter, selling 82,014 shares and retaining 101,039 shares worth approximately $6.67 million. Institutional investors and hedge funds collectively own 36.83% of the company.
• JOYY shares opened at $74.36, with the stock trading between a 52-week low of $54.24 and high of $80.90. Analysts maintain a “Moderate Buy” consensus, with an average price target of $83.40.
• JOYY raised its quarterly dividend to $1.55 per share, equivalent to an annualized $6.20 dividend and an 8.3% yield, although its payout ratio stands at 147.49%.

Maven Securities LTD lessened its stake in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Free Report) by 44.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,039 shares of the company's stock after selling 82,014 shares during the period. Maven Securities LTD owned about 0.21% of JOYY worth $6,668,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of JOYY. Stonehill Capital Management LLC acquired a new position in shares of JOYY during the 3rd quarter worth approximately $80,885,000. Public Employees Retirement System of Ohio bought a new stake in JOYY during the third quarter worth $9,204,000. SG Americas Securities LLC lifted its stake in JOYY by 49.9% in the first quarter. SG Americas Securities LLC now owns 112,466 shares of the company's stock valued at $6,567,000 after acquiring an additional 37,451 shares during the last quarter. New York State Common Retirement Fund lifted its stake in JOYY by 8.8% in the fourth quarter. New York State Common Retirement Fund now owns 138,555 shares of the company's stock valued at $8,973,000 after acquiring an additional 11,200 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in shares of JOYY in the 3rd quarter valued at about $442,000. 36.83% of the stock is owned by institutional investors and hedge funds.

JOYY Price Performance

Shares of JOYY opened at $74.36 on Wednesday. The firm has a market capitalization of $3.64 billion, a PE ratio of 17.75 and a beta of 0.45. The company's 50-day moving average is $72.81 and its 200-day moving average is $65.49. JOYY Inc. Sponsored ADR has a fifty-two week low of $54.24 and a fifty-two week high of $80.90.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be paid a $1.55 dividend. This is an increase from JOYY's previous quarterly dividend of $1.50. The ex-dividend date is Wednesday, September 30th. This represents a $6.20 dividend on an annualized basis and a yield of 8.3%. JOYY's dividend payout ratio (DPR) is currently 147.49%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on JOYY shares. Jefferies Financial Group restated a "buy" rating and set a $87.00 price objective on shares of JOYY in a research note on Wednesday, August 26th. Morgan Stanley set a $74.00 target price on shares of JOYY in a research note on Wednesday, August 26th. Citigroup reissued a "buy" rating on shares of JOYY in a research report on Wednesday, July 22nd. Benchmark restated a "buy" rating on shares of JOYY in a research note on Wednesday, August 26th. Finally, JPMorgan Chase & Co. raised JOYY from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $35.00 to $98.00 in a research report on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.40.

JOYY Profile

JOYY Inc NASDAQ: JOYY is a China-based technology company that develops and operates social media and live-streaming platforms. The company's core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY's platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.

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