US Bancorp DE raised its stake in JOYY Inc. (NASDAQ:YY – Get Rating) by 276.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,078 shares of the information services provider’s stock after purchasing an additional 5,935 shares during the quarter. US Bancorp DE’s holdings in JOYY were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.
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Several other institutional investors and hedge funds have also recently modified their holdings of YY. Wipfli Financial Advisors LLC purchased a new stake in shares of JOYY during the third quarter valued at approximately $71,000. CSS LLC IL purchased a new stake in shares of JOYY during the second quarter valued at approximately $200,000. Victory Capital Management Inc. increased its position in shares of JOYY by 9.0% during the second quarter. Victory Capital Management Inc. now owns 7,520 shares of the information services provider’s stock valued at $225,000 after acquiring an additional 620 shares during the last quarter. Desjardins Global Asset Management Inc. purchased a new stake in shares of JOYY during the second quarter valued at approximately $274,000. Finally, Prudential Financial Inc. purchased a new stake in shares of JOYY during the first quarter valued at approximately $275,000. 42.31% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
YY has been the subject of a number of research analyst reports. TheStreet raised JOYY from a “d+” rating to a “c” rating in a research report on Friday, December 9th. StockNews.com lowered JOYY from a “buy” rating to a “hold” rating in a report on Friday, October 14th. Finally, Citigroup reduced their price objective on JOYY from $47.00 to $46.00 in a report on Wednesday, November 30th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, JOYY has an average rating of “Hold” and a consensus target price of $49.33.
JOYY Price Performance
JOYY stock opened at $38.49 on Friday. JOYY Inc. has a one year low of $21.38 and a one year high of $53.55. The business has a fifty day moving average price of $33.47 and a 200-day moving average price of $29.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $3.00 billion, a P/E ratio of 5.54 and a beta of 0.53.
JOYY (NASDAQ:YY – Get Rating) last posted its quarterly earnings results on Monday, November 28th. The information services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.47. JOYY had a return on equity of 4.02% and a net margin of 23.37%. The firm had revenue of $586.73 million during the quarter, compared to analyst estimates of $580.16 million. As a group, equities research analysts forecast that JOYY Inc. will post 1.61 EPS for the current year.
JOYY Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 23rd were issued a $0.51 dividend. This is a positive change from JOYY’s previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend was Thursday, December 22nd. JOYY’s dividend payout ratio (DPR) is presently 29.21%.
JOYY Company Profile
JOYY, Inc engages in managing a communication social platform, which enables users to join real-time online group activities through voice, text, and video. Its services include music and entertainment, online games, online dating, live game broadcasting, online education, and advertising. It operates through following segments: Live Streaming, Online Games, Membership and Others.
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