JOYY (NASDAQ:JOYY) Trading 2.6% Higher - Time to Buy?

Key Points

• JOYY shares rose 2.6% to about $60.27 on Wednesday with volume up ~35% versus the average; the company has a market cap of $3.01 billion and a price-to-earnings ratio of 1.54.
• Analyst coverage is mixed — UBS and Citigroup rate JOYY a Buy, Weiss a Hold and Zacks a Strong Sell, producing a MarketBeat consensus of Hold and an average target of $74.67.
• JOYY declared a quarterly dividend of $1.38 (annualized $5.52), implying a 9.2% yield; the ex-dividend date is April 22 and the payment date is May 8.

JOYY Inc. Sponsored ADR (NASDAQ:JOYY - Get Free Report)'s share price traded up 2.6% on Wednesday . The stock traded as high as $60.62 and last traded at $60.27. 361,002 shares were traded during mid-day trading, an increase of 35% from the average session volume of 267,387 shares. The stock had previously closed at $58.75.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group assumed coverage on JOYY in a report on Wednesday, March 11th. They issued a "buy" rating and a $80.00 target price on the stock. Citigroup upped their target price on JOYY from $70.00 to $78.00 and gave the company a "buy" rating in a report on Tuesday, January 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of JOYY in a report on Thursday, January 22nd. Finally, Zacks Research lowered JOYY from a "hold" rating to a "strong sell" rating in a report on Thursday, March 19th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, JOYY has a consensus rating of "Hold" and an average target price of $74.67.

JOYY Stock Up 2.6%

The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 1.54 and a beta of 0.42. The business has a 50 day moving average of $59.85 and a 200 day moving average of $62.22.

JOYY (NASDAQ:JOYY - Get Free Report) last posted its quarterly earnings data on Saturday, February 14th. The company reported $1.34 EPS for the quarter. The business had revenue of $581.92 million for the quarter. JOYY had a return on equity of 3.93% and a net margin of 98.79%. Research analysts predict that JOYY Inc. Sponsored ADR will post 4.79 earnings per share for the current year.

JOYY Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Wednesday, April 22nd will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $5.52 dividend on an annualized basis and a dividend yield of 9.2%. JOYY's dividend payout ratio (DPR) is presently 14.09%.

Institutional Trading of JOYY

Large investors have recently made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in JOYY during the third quarter worth about $1,189,000. SG Americas Securities LLC lifted its position in 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. China Universal Asset Management Co. Ltd. purchased a new position in JOYY during the third quarter worth about $715,000. DGS Capital Management LLC lifted its position in JOYY by 5.9% during the first quarter. DGS Capital Management LLC now owns 3,792 shares of the company's stock worth $221,000 after buying an additional 211 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new position in JOYY during the fourth quarter worth about $392,000. Institutional investors and hedge funds own 36.83% of the company's stock.

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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