JOYY (NASDAQ:YY) Shares Gap Down to $62.05

JOYY Inc. (NASDAQ:YY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $62.05, but opened at $60.73. JOYY shares last traded at $58.60, with a volume of 9,842 shares trading hands.

A number of equities research analysts have weighed in on the stock. National Securities reiterated a “buy” rating and set a $132.00 price target on shares of JOYY in a research report on Friday, June 18th. Morgan Stanley dropped their price target on shares of JOYY from $141.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, July 16th. Credit Suisse Group restated an “outperform” rating and issued a $129.00 price objective on shares of JOYY in a report on Friday, June 18th. TheStreet cut shares of JOYY from a “b-” rating to a “c” rating in a report on Friday, June 25th. Finally, Nomura reiterated a “buy” rating and set a $148.00 price target on shares of JOYY in a report on Friday, June 18th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $117.20.

The firm’s 50-day moving average price is $56.17 and its two-hundred day moving average price is $78.76. The firm has a market cap of $4.50 billion, a PE ratio of 35.01 and a beta of 0.86. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.10 and a current ratio of 2.10.

JOYY (NASDAQ:YY) last released its quarterly earnings results on Tuesday, August 17th. The information services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.06). JOYY had a net margin of 6.27% and a return on equity of 1.26%. As a group, sell-side analysts predict that JOYY Inc. will post -0.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Friday, September 10th will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $2.04 annualized dividend and a yield of 3.55%. JOYY’s dividend payout ratio (DPR) is -93.12%.

Institutional investors have recently made changes to their positions in the business. Ameritas Investment Company LLC purchased a new position in JOYY during the 1st quarter worth $33,000. Eaton Vance Management acquired a new position in shares of JOYY during the 1st quarter worth $55,000. Maverick Capital Ltd. acquired a new position in shares of JOYY during the 1st quarter worth $105,000. Distillate Capital Partners LLC grew its stake in shares of JOYY by 88.9% during the 1st quarter. Distillate Capital Partners LLC now owns 1,632 shares of the information services provider’s stock worth $153,000 after purchasing an additional 768 shares during the period. Finally, California State Teachers Retirement System acquired a new position in shares of JOYY during the 2nd quarter worth $132,000. Institutional investors own 54.03% of the company’s stock.

About JOYY (NASDAQ:YY)

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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