JOYY (NASDAQ:JOYY) Sets New 1-Year High - Time to Buy?

Key Points

• JOYY shares hit a new 52-week high, trading as high as $71.60 before ending around $70.22, even on very light volume.
• Analyst sentiment is moderately positive: UBS initiated coverage with a Buy rating and an $80 price target, while consensus data shows a “Moderate Buy” rating and a $74.67 target.
• The company boosted its quarterly dividend to $1.50 per share, up from $1.38, implying an annualized dividend of $6.00 and a yield of about 8.6%.

JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $71.60 and last traded at $70.22, with a volume of 343 shares changing hands. The stock had previously closed at $70.28.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on JOYY shares. UBS Group started coverage on JOYY in a report on Wednesday, March 11th. They set a "buy" rating and a $80.00 target price on the stock. Zacks Research raised JOYY from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.67.

JOYY Stock Down 0.2%

The firm has a market capitalization of $3.51 billion, a P/E ratio of 16.31 and a beta of 0.46. The business's 50 day moving average is $63.67 and its 200-day moving average is $63.14.

JOYY Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Monday, June 29th. This is a positive change from JOYY's previous quarterly dividend of $1.38. JOYY's dividend payout ratio is 138.75%.

Institutional Trading of JOYY

Several institutional investors and hedge funds have recently modified their holdings of JOYY. EverSource Wealth Advisors LLC grew its position in JOYY by 167.7% in 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 last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of JOYY in the 1st quarter valued at approximately $281,000. DGS Capital Management LLC boosted its stake in shares of JOYY by 5.9% in the 1st quarter. DGS Capital Management LLC now owns 3,792 shares of the company's stock valued at $221,000 after purchasing an additional 211 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of JOYY by 49.9% during the 1st quarter. SG Americas Securities LLC now owns 112,466 shares of the company's stock valued at $6,567,000 after purchasing an additional 37,451 shares during the last quarter. Finally, Atlas Capital Advisors Inc. bought a new stake in shares of JOYY during the 4th quarter valued at approximately $392,000. 36.83% of the stock is currently owned by institutional investors.

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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