JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) have received an average rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings 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 brokers that have updated their coverage on the stock in the last year is $83.40.

Several brokerages recently issued reports on JOYY. Jefferies Financial Group reiterated a “buy” rating and issued a $87.00 price objective on shares of JOYY in a research report on Wednesday, August 26th. Benchmark reaffirmed a “buy” rating on shares of JOYY in a research report on Wednesday, August 26th. Weiss Ratings raised shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research note on Friday, August 28th. Morgan Stanley set a $74.00 target price on JOYY in a report on Wednesday, August 26th. Finally, Citigroup reissued a “buy” rating on shares of JOYY in a research note on Wednesday, July 22nd.

JOYY Trading Up 3.2%

NASDAQ:JOYY opened at $77.26 on Friday. JOYY has a 1 year low of $54.24 and a 1 year high of $80.90. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 18.44 and a beta of 0.45. The stock has a 50-day moving average price of $73.29 and a two-hundred day moving average price of $65.74.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Wednesday, September 30th will be given a $1.55 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.20 dividend on an annualized basis and a yield of 8.0%. This is a boost from JOYY’s previous quarterly dividend of $1.50. JOYY’s payout ratio is 142.72%.

Hedge Funds Weigh In On JOYY

Large investors have recently bought and sold shares of the company. Sittner & Nelson LLC acquired a new stake in shares of JOYY in the third quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its stake in JOYY by 167.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock valued at $36,000 after buying an additional 384 shares during the last quarter. Ramsey Quantitative Systems acquired a new position in shares of JOYY during the 2nd quarter worth about $63,000. Integrated Wealth Concepts LLC acquired a new position in shares of JOYY during the 2nd quarter worth about $65,000. Finally, Nykredit A S bought a new position in shares of JOYY in the 2nd quarter valued at about $110,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a global social media and entertainment company that develops and operates live-streaming, short-form video, instant-messaging and online social platforms. Its services enable users to broadcast and watch live content, create and share videos, communicate with others, and participate in online communities.

JOYY’s principal brands include Bigo Live, a live-streaming platform; Likee, a short-form video and social networking application; and imo, an instant-messaging and voice and video communication service.