Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY – Get Free Report) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $78.82 and traded as high as $81.12. JOYY shares last traded at $80.83, with a volume of 366,442 shares changing hands.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded JOYY from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $35.00 to $98.00 in a research report on Wednesday, August 12th. Benchmark reissued a “buy” rating on shares of JOYY in a research note on Wednesday, August 26th. Jefferies Financial Group restated a “buy” rating and set a $87.00 target price on shares of JOYY in a report on Wednesday, August 26th. Citigroup restated a “buy” rating on shares of JOYY in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.40.
View Our Latest Stock Analysis on JOYY
JOYY Price Performance
The company has a market cap of $3.96 billion, a price-to-earnings ratio of 19.29 and a beta of 0.38. The stock has a 50-day moving average price of $78.82 and a 200 day moving average price of $68.32.
JOYY Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from JOYY’s previous quarterly dividend of $1.50. JOYY’s dividend payout ratio (DPR) is currently 147.49%.
Institutional Investors Weigh In On JOYY
Several large investors have recently made changes to their positions in JOYY. Moody Aldrich Partners LLC acquired a new position in JOYY in the 3rd quarter worth $933,000. Asset Management One Co. Ltd. acquired a new position in shares of JOYY during the third quarter worth about $2,383,000. Signaturefd LLC acquired a new position in shares of JOYY during the third quarter worth about $266,000. Ramsey Quantitative Systems bought a new position in shares of JOYY during the third quarter worth about $45,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of JOYY during the third quarter worth about $31,000. Institutional investors own 36.83% of the company’s stock.
About JOYY
JOYY Inc (NASDAQ: JOYY) is a global technology company that operates video-based social media and live-streaming platforms. The company’s services enable users to share live video, create and view short-form content, communicate through messaging and voice services, and participate in online communities.
JOYY’s principal products include BIGO LIVE, a live-streaming platform; Likee, a short-form video and creation platform; and imo, an instant messaging and voice and video communication service.
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