JOYY (NASDAQ:JOYY) Hits New 1-Year High – Time to Buy?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) reached a new 52-week high on Monday . The company traded as high as $70.35 and last traded at $70.29, with a volume of 176314 shares changing hands. The stock had previously closed at $66.40.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of JOYY from $59.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Wall Street Zen lowered JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Morgan Stanley set a $66.00 price objective on shares of JOYY in a report on Monday, November 24th. Weiss Ratings upgraded JOYY from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Finally, Zacks Research raised shares of JOYY from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $68.00.

JOYY Stock Performance

The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 2.14 and a beta of 0.36. The firm has a fifty day moving average price of $63.18.

JOYY Increases Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, January 13th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, January 2nd. This is a positive change from JOYY’s previous dividend of $0.95. JOYY’s dividend payout ratio is currently 11.94%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JOYY. SG Americas Securities LLC grew its position in JOYY by 1,336.8% during the 4th quarter. SG Americas Securities LLC now owns 75,015 shares of the company’s stock worth $4,858,000 after acquiring an additional 69,794 shares during the last quarter. Stonehill Capital Management LLC acquired a new position in shares of JOYY during the third quarter worth $80,885,000. Sittner & Nelson LLC acquired a new position in shares of JOYY during the third quarter worth $29,000. Public Employees Retirement System of Ohio bought a new position in shares of JOYY during the third quarter worth about $9,204,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of JOYY in the 3rd quarter worth approximately $442,000. Institutional investors 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.