JOYY (NASDAQ:JOYY) Trading Down 1.4% – Should You Sell?

Shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) dropped 1.4% on Wednesday . The stock traded as low as $66.08 and last traded at $66.42. Approximately 169,509 shares changed hands during trading, a decline of 54% from the average session volume of 367,810 shares. The stock had previously closed at $67.35.

Wall Street Analysts Forecast Growth

JOYY has been the subject of several recent analyst reports. Zacks Research upgraded shares of JOYY from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. UBS Group began coverage on shares of JOYY in a report on Wednesday, March 11th. They issued a “buy” rating and a $80.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, JOYY presently has an average rating of “Moderate Buy” and an average target price of $74.67.

JOYY Stock Performance

The company’s 50-day simple moving average is $61.87 and its 200 day simple moving average is $62.76. The company has a market cap of $3.29 billion, a PE ratio of 15.25 and a beta of 0.45.

JOYY (NASDAQ:JOYY) last posted its quarterly earnings data 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 3.67% and a net margin of 10.42%. Analysts forecast that JOYY Inc. Sponsored ADR will post 4.65 EPS for the current year.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th will be issued a dividend of $1.50 per share. This is a positive change from JOYY’s previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 29th. This represents a $6.00 annualized dividend and a yield of 9.1%. JOYY’s dividend payout ratio (DPR) is currently 127.61%.

Hedge Funds Weigh In On JOYY

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sittner & Nelson LLC acquired a new position in shares of JOYY during the third quarter worth about $29,000. EverSource Wealth Advisors LLC increased its position in shares of JOYY by 167.7% in 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 last quarter. DGS Capital Management LLC increased its position in shares of JOYY by 5.9% in the 1st quarter. DGS Capital Management LLC now owns 3,792 shares of the company’s stock valued at $221,000 after purchasing an additional 211 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of JOYY in the 1st quarter valued at $281,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of JOYY in the 4th quarter valued at $392,000. Hedge funds and other 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.