JOYY (NASDAQ:JOYY) Shares Gap Up Following Dividend Announcement

JOYY Inc. Sponsored ADR (NASDAQ:JOYY) gapped up prior to trading on Tuesday after the company announced a dividend. The stock had previously closed at $54.42, but opened at $60.87. JOYY shares last traded at $61.56, with a volume of 162,905 shares.

The newly announced dividend which will be paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Monday, June 29th. This is an increase from JOYY’s previous quarterly dividend of $1.38. JOYY’s dividend payout ratio (DPR) is presently 139.21%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JOYY. Zacks Research raised JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. UBS Group began coverage on JOYY in a research note on Wednesday, March 11th. They issued a “buy” rating and a $80.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.67.

JOYY Price Performance

The firm has a market cap of $3.29 billion, a PE ratio of 15.29 and a beta of 0.42. The business has a fifty day moving average price of $59.09 and a two-hundred day moving average price of $62.09.

JOYY (NASDAQ:JOYY) last issued its quarterly earnings results on Saturday, February 14th. The company reported $1.34 earnings per share for the quarter. The business had revenue of $581.92 million for the quarter. JOYY had a return on equity of 3.66% and a net margin of 10.42%. As a group, sell-side analysts forecast that JOYY Inc. Sponsored ADR will post 4.79 EPS for the current fiscal year.

Institutional Trading of JOYY

Several large investors have recently made changes to their positions in the stock. DGS Capital Management LLC boosted its stake in shares of JOYY by 5.9% during the 1st quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock worth $221,000 after acquiring an additional 211 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in JOYY by 167.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock valued at $36,000 after purchasing an additional 384 shares during the period. SBI Securities Co. Ltd. bought a new stake in JOYY during the 3rd quarter valued at approximately $27,000. Sittner & Nelson LLC bought a new stake in JOYY during the 3rd quarter valued at approximately $29,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in JOYY during the 3rd quarter valued at approximately $142,000. Institutional investors own 36.83% of the company’s stock.

About JOYY

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.