Short Interest in JOYY Inc. Sponsored ADR (NASDAQ:JOYY) Declines By 26.7%

by · The Cerbat Gem

JOYY Inc. Sponsored ADR (NASDAQ:JOYYGet Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 748,932 shares, a drop of 26.7% from the March 15th total of 1,021,755 shares. Based on an average daily volume of 471,053 shares, the short-interest ratio is currently 1.6 days. Currently, 2.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Stonehill Capital Management LLC bought a new stake in shares of JOYY during the third quarter worth $80,885,000. Public Employees Retirement System of Ohio acquired a new position in JOYY in the 3rd quarter worth $9,204,000. SG Americas Securities LLC boosted its stake in JOYY by 1,336.8% in the 4th quarter. SG Americas Securities LLC now owns 75,015 shares of the company’s stock worth $4,858,000 after purchasing an additional 69,794 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in JOYY during the 3rd quarter worth about $1,189,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of JOYY in the 3rd quarter valued at about $715,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

Analyst Upgrades and Downgrades

JOYY has been the subject of a number of recent analyst reports. Wall Street Zen downgraded JOYY from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Citigroup raised their target price on JOYY from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Zacks Research cut JOYY from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 19th. UBS Group began coverage on shares of JOYY in a research report on Wednesday, March 11th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of JOYY in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.67.

Read Our Latest Stock Analysis on JOYY

JOYY Stock Down 0.2%

JOYY stock traded down $0.11 during mid-day trading on Thursday, hitting $62.96. 273,803 shares of the company’s stock were exchanged, compared to its average volume of 317,153. The company’s 50 day simple moving average is $60.59 and its 200-day simple moving average is $62.00. The firm has a market capitalization of $3.15 billion, a P/E ratio of 1.61 and a beta of 0.42. JOYY has a fifty-two week low of $38.40 and a fifty-two week high of $70.96.

JOYY (NASDAQ:JOYYGet Free Report) last posted its earnings results on Saturday, February 14th. The company reported $1.34 earnings per share (EPS) for the quarter. The firm had revenue of $581.92 million during the quarter. JOYY had a return on equity of 3.93% and a net margin of 98.79%.

JOYY Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Wednesday, April 22nd will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 8.8%. The ex-dividend date is Wednesday, April 22nd. JOYY’s dividend payout ratio (DPR) is 9.89%.

JOYY Company Profile

(Get Free Report)

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.

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