StockNews.com Begins Coverage on JOYY (NASDAQ:YY)

StockNews.com assumed coverage on shares of JOYY (NASDAQ:YY – Get Rating) in a research report report published on Thursday morning. The firm issued a hold rating on the information services provider’s stock.

Other equities analysts have also issued reports about the company. Citigroup reduced their price objective on JOYY from $46.00 to $45.00 and set a buy rating on the stock in a research report on Monday, February 13th. TheStreet upgraded JOYY from a d+ rating to a c rating in a research report on Friday, December 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, JOYY has an average rating of Hold and an average target price of $44.00.

JOYY Price Performance

Shares of NASDAQ YY opened at $28.83 on Thursday. The firm has a market capitalization of $2.25 billion, a P/E ratio of 40.04 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. The stock’s 50-day simple moving average is $34.17 and its two-hundred day simple moving average is $30.84. JOYY has a twelve month low of $21.38 and a twelve month high of $47.23.

JOYY Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 13th will be issued a dividend of $0.507 per share. This represents a $2.03 annualized dividend and a yield of 7.03%. The ex-dividend date is Wednesday, April 12th. JOYY’s dividend payout ratio is presently 281.94%.

Institutional Investors Weigh In On JOYY

Several institutional investors have recently bought and sold shares of YY. Quantbot Technologies LP purchased a new stake in JOYY in the 3rd quarter worth approximately $34,000. PNC Financial Services Group Inc. lifted its holdings in JOYY by 31.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock worth $45,000 after buying an additional 343 shares during the period. Tobam lifted its holdings in JOYY by 74.6% in the 3rd quarter. Tobam now owns 2,730 shares of the information services provider’s stock worth $71,000 after buying an additional 1,166 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in JOYY in the 3rd quarter worth approximately $71,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in JOYY in the 4th quarter worth approximately $92,000. 42.31% of the stock is currently owned by hedge funds and other institutional investors.

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.