SG Americas Securities LLC Purchases 37,451 Shares of JOYY Inc. Sponsored ADR $JOYY

SG Americas Securities LLC lifted its position in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) by 49.9% during the 1st quarter, HoldingsChannel reports. The fund owned 112,466 shares of the company’s stock after purchasing an additional 37,451 shares during the period. SG Americas Securities LLC’s holdings in JOYY were worth $6,567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Atlas Capital Advisors Inc. acquired a new stake in shares of JOYY in the fourth quarter valued at about $392,000. Sittner & Nelson LLC acquired a new position in shares of JOYY in the third quarter worth approximately $29,000. Stonehill Capital Management LLC bought a new stake in JOYY in the third quarter valued at approximately $80,885,000. Public Employees Retirement System of Ohio bought a new stake in JOYY in the third quarter valued at approximately $9,204,000. Finally, New York State Common Retirement Fund increased its position in JOYY by 8.8% during the 4th 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 period. Institutional investors own 36.83% of the company’s stock.

JOYY Price Performance

Shares of JOYY stock opened at $66.62 on Monday. The stock’s 50-day moving average is $62.49 and its 200 day moving average is $62.90. JOYY Inc. Sponsored ADR has a one year low of $48.53 and a one year high of $70.96. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 15.46 and a beta of 0.45.

JOYY (NASDAQ:JOYY) last issued its earnings results on Saturday, February 14th. The company reported $1.34 earnings per share for the quarter. JOYY had a return on equity of 3.67% and a net margin of 10.42%.The business had revenue of $581.92 million during the quarter. On average, sell-side analysts expect that JOYY Inc. Sponsored ADR will post 4.65 EPS for the current fiscal year.

JOYY Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th will be given a dividend of $1.50 per share. This is a positive change from JOYY’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 29th. This represents a $6.00 annualized dividend and a dividend yield of 9.0%. JOYY’s payout ratio is 127.61%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JOYY. UBS Group initiated coverage on shares of JOYY in a report on Wednesday, March 11th. They set a “buy” rating and a $80.00 price target for the company. Zacks Research upgraded shares of JOYY from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, JOYY has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

JOYY 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.