JOYY (NASDAQ:JOYY) Sets New 12-Month High - Here's What Happened

Key Points

• JOYY shares hit a new 52-week high, trading as high as $72.09 and finishing around $71.48, up about 3% on the day.
• Analyst sentiment improved after Zacks Research upgraded the stock from “strong sell” to “hold,” while the overall consensus remains a “Moderate Buy” with an average price target of $74.67.
• The company boosted its quarterly dividend to $1.50 per share from $1.38, implying an annualized yield of about 8.3%, though the payout ratio is high at 138.75%.

JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $72.09 and last traded at $71.48, with a volume of 29973 shares traded. The stock had previously closed at $70.07.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of JOYY from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $74.67.

JOYY Stock Up 3.0%

The stock has a 50-day moving average of $65.30 and a 200 day moving average of $63.37. The stock has a market cap of $3.61 billion, a PE ratio of 16.74 and a beta of 0.46.

JOYY Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th were given a dividend of $1.50 per share. This is a boost from JOYY's previous quarterly dividend of $1.38. This represents a $6.00 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date was Monday, June 29th. JOYY's dividend payout ratio (DPR) is currently 138.75%.

Hedge Funds Weigh In On JOYY

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC boosted its position in shares of JOYY by 1,336.8% during the fourth quarter. SG Americas Securities LLC now owns 75,015 shares of the company's stock worth $4,858,000 after buying an additional 69,794 shares during the period. DGS Capital Management LLC acquired a new stake in JOYY in the fourth quarter valued at approximately $232,000. Atlas Capital Advisors Inc. purchased a new position in JOYY in the fourth quarter worth approximately $392,000. Handelsbanken Fonder AB grew its holdings in JOYY by 67.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 12,900 shares of the company's stock worth $851,000 after acquiring an additional 5,200 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of JOYY by 167.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company's stock valued at $36,000 after purchasing an additional 384 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

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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