JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Given Average Rating of “Moderate Buy” by Analysts

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $83.40.

A number of analysts have recently issued reports on JOYY shares. Benchmark restated a “buy” rating on shares of JOYY in a report on Wednesday, August 26th. Morgan Stanley set a $74.00 price target on JOYY in a research report on Wednesday, August 26th. Zacks Research raised JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Citigroup restated a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $87.00 target price on shares of JOYY in a research note on Wednesday, August 26th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. acquired a new stake in shares of JOYY during the 3rd quarter valued at $442,000. Public Employees Retirement System of Ohio acquired a new position in shares of JOYY in the third quarter worth $9,204,000. Sittner & Nelson LLC purchased a new stake in shares of JOYY during the third quarter worth $29,000. Stonehill Capital Management LLC purchased a new stake in shares of JOYY during the third quarter worth $80,885,000. Finally, New York State Common Retirement Fund boosted its position in JOYY by 8.8% during 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 purchasing an additional 11,200 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Stock Performance

JOYY stock opened at $75.00 on Friday. The company has a 50 day moving average price of $72.46 and a 200 day moving average price of $65.27. JOYY has a 52 week low of $54.24 and a 52 week high of $80.90. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 17.90 and a beta of 0.45.

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 issued a dividend of $1.55 per share. This is an increase from JOYY’s previous quarterly dividend of $1.50. This represents a $6.20 annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Wednesday, September 30th. JOYY’s dividend payout ratio is 147.49%.

JOYY Company 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.