JOYY (NASDAQ:YY) Earns Hold Rating from Analysts at StockNews.com

by · The Markets Daily

StockNews.com began coverage on shares of JOYY (NASDAQ:YY – Free Report) in a report released on Wednesday. The brokerage issued a hold rating on the information services provider’s stock.

Separately, Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

Read Our Latest Analysis on JOYY

JOYY Price Performance

Shares of YY stock opened at $38.41 on Wednesday. The stock has a market cap of $2.07 billion, a PE ratio of 11.60 and a beta of 0.21. The stock has a 50-day moving average of $45.16 and a 200-day moving average of $40.63. JOYY has a one year low of $27.88 and a one year high of $55.31.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.93 per share. This is an increase from JOYY’s previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a yield of 9.68%. The ex-dividend date is Thursday, April 17th. JOYY’s dividend payout ratio (DPR) is -120.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in YY. Charles Schwab Investment Management Inc. boosted its position in shares of JOYY by 45.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock worth $3,615,000 after buying an additional 31,341 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in JOYY by 35.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,436 shares of the information services provider’s stock worth $1,103,000 after acquiring an additional 8,019 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in JOYY during the 3rd quarter worth approximately $4,383,000. Geode Capital Management LLC grew its stake in shares of JOYY by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider’s stock worth $2,615,000 after acquiring an additional 877 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of JOYY by 1.3% in the third quarter. Barclays PLC now owns 20,543 shares of the information services provider’s stock valued at $744,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Company Profile

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JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.

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