JOYY Inc. to Issue Quarterly Dividend of $0.51 (NASDAQ:YY)

JOYY Inc. (NASDAQ:YY – Get Rating) declared a quarterly dividend on Wednesday, March 15th, Zacks reports. Stockholders of record on Thursday, April 13th will be paid a dividend of 0.507 per share by the information services provider on Friday, April 28th. This represents a $2.03 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend is Wednesday, April 12th.

JOYY Stock Performance

Shares of YY opened at $28.33 on Friday. The company’s fifty day moving average is $34.35 and its 200-day moving average is $30.83. JOYY has a 12 month low of $21.38 and a 12 month high of $47.23. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 4.03 and a beta of 0.54. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On JOYY

Several institutional investors have recently added to or reduced their stakes in YY. Dynamic Technology Lab Private Ltd acquired a new stake in JOYY in the 1st quarter valued at about $603,000. Principal Financial Group Inc. increased its position in JOYY by 117.0% in the 2nd quarter. Principal Financial Group Inc. now owns 17,106 shares of the information services provider’s stock valued at $511,000 after acquiring an additional 9,224 shares in the last quarter. Engineers Gate Manager LP increased its position in JOYY by 46.9% in the 4th quarter. Engineers Gate Manager LP now owns 15,529 shares of the information services provider’s stock valued at $491,000 after acquiring an additional 4,959 shares in the last quarter. Advisor Group Holdings Inc. increased its position in JOYY by 605.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 15,022 shares of the information services provider’s stock valued at $475,000 after acquiring an additional 12,893 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in JOYY by 34.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,302 shares of the information services provider’s stock valued at $452,000 after acquiring an additional 3,164 shares in the last quarter. 42.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Benchmark lowered their target price on shares of JOYY from $62.00 to $49.00 in a research note on Friday. Citigroup reduced their price target on shares of JOYY from $46.00 to $45.00 and set a “buy” rating for the company in a report on Monday, February 13th. TheStreet raised shares of JOYY from a “d+” rating to a “c” rating in a report on Friday, December 9th. CLSA reduced their price target on shares of JOYY from $48.00 to $42.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com assumed coverage on shares of JOYY in a report on Thursday. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.00.

JOYY Company Profile

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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.