JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Three of five analysts rate JOYY a buy and two recommend holding the stock, with an average 12-month price target of $80.50.
• JOYY shares rose 2.1% to $74.95, near their 52-week high of $76.68. Institutional investors and hedge funds own 36.83% of the company.
• The company increased its quarterly dividend to $1.50 per share, equivalent to $6.00 annually and an 8.0% yield, although its payout ratio stands at 138.75%.

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Get Free Report) have earned an average rating of "Moderate Buy" from the five analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $80.50.

A number of analysts have recently issued reports on the company. Citigroup restated a "buy" rating on shares of JOYY in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upgraded shares of JOYY from a "neutral" rating to an "overweight" rating and set a $98.00 price objective for the company in a research note on Wednesday. Finally, Zacks Research upgraded shares of JOYY from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of JOYY. Stonehill Capital Management LLC acquired a new stake in shares of JOYY in the 3rd quarter valued at $80,885,000. Public Employees Retirement System of Ohio acquired a new position in shares of JOYY in the 3rd quarter worth approximately $9,204,000. New York State Common Retirement Fund boosted its holdings in shares of JOYY by 8.8% in the 4th quarter. New York State Common Retirement Fund now owns 138,555 shares of the company's stock worth $8,973,000 after acquiring an additional 11,200 shares in the last quarter. SG Americas Securities LLC grew its position in JOYY by 49.9% during the 1st quarter. SG Americas Securities LLC now owns 112,466 shares of the company's stock worth $6,567,000 after acquiring an additional 37,451 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in JOYY by 67.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 12,900 shares of the company's stock valued at $851,000 after purchasing an additional 5,200 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Trading Up 2.1%

JOYY traded up $1.54 on Wednesday, hitting $74.95. 36,359 shares of the stock traded hands, compared to its average volume of 330,559. The business has a fifty day moving average price of $69.85 and a two-hundred day moving average price of $64.12. The firm has a market capitalization of $3.75 billion, a PE ratio of 17.39 and a beta of 0.47. JOYY has a 52 week low of $48.53 and a 52 week high of $76.68.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend was Monday, June 29th. This is a boost from JOYY's previous quarterly dividend of $1.38. JOYY's payout ratio is currently 138.75%.

About JOYY

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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