JOYY (NASDAQ:JOYY) Stock Price Down 1.4% – Here’s Why

JOYY Inc. Sponsored ADR (NASDAQ:JOYY)’s share price fell 1.4% during trading on Wednesday . The company traded as low as $66.08 and last traded at $66.42. 169,509 shares traded hands during trading, a decline of 54% from the average session volume of 367,810 shares. The stock had previously closed at $67.35.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JOYY. Zacks Research raised JOYY from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. UBS Group began coverage on JOYY in a report on Wednesday, March 11th. They set a “buy” rating and a $80.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.67.

JOYY Price Performance

The business has a fifty day simple moving average of $61.73 and a 200 day simple moving average of $62.74. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 15.41 and a beta of 0.45.

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

JOYY Increases Dividend

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

Institutional Investors Weigh In On JOYY

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 holdings in shares of JOYY by 167.7% in 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. DGS Capital Management LLC increased its holdings in shares of JOYY by 5.9% in the first quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock valued at $221,000 after purchasing an additional 211 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of JOYY in the first quarter valued at approximately $281,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of JOYY in the fourth quarter valued at approximately $392,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Company 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.