JOYY (NASDAQ:JOYY) Reaches New 52-Week High – What’s Next?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) shares hit a new 52-week high during mid-day trading 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

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

JOYY Price Performance

The company has a market capitalization of $3.53 billion, a PE ratio of 16.37 and a beta of 0.46. The business has a 50-day moving average of $64.22 and a 200 day moving average of $63.24.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th will be issued 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 8.5%. JOYY’s payout ratio is currently 138.75%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. DGS Capital Management LLC increased its position in JOYY by 5.9% in the first quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock worth $221,000 after purchasing an additional 211 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in JOYY by 167.7% during the first 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. Sittner & Nelson LLC purchased a new position in shares of JOYY in the 3rd quarter worth $29,000. Ramsey Quantitative Systems purchased a new position in shares of JOYY in the 2nd quarter worth $63,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of JOYY in the 1st quarter worth about $281,000. 36.83% of the stock is owned by hedge funds and other 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.