JOYY (NASDAQ:JOYY) Hits New 12-Month High – Still a Buy?

JOYY Inc. Sponsored ADR (NASDAQ:JOYY)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $72.09 and last traded at $71.48, with a volume of 29973 shares trading hands. The stock had previously closed at $70.07.

Analyst Ratings Changes

Separately, Zacks Research upgraded JOYY from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. 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.com, JOYY has an average rating of “Moderate Buy” and an average price target of $74.67.

JOYY Stock Up 3.0%

The company has a market capitalization of $3.61 billion, a PE ratio of 16.74 and a beta of 0.46. The stock’s fifty day simple moving average is $65.30 and its 200-day simple moving average is $63.37.

JOYY Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 8.3%. This is a boost from JOYY’s previous quarterly dividend of $1.38. The ex-dividend date was Monday, June 29th. JOYY’s payout ratio is presently 138.75%.

Institutional Investors Weigh In On JOYY

Institutional investors have recently added to or reduced their stakes in the company. Sittner & Nelson LLC acquired a new position in shares of JOYY during the third quarter worth about $29,000. EverSource Wealth Advisors LLC grew its stake in shares of JOYY by 167.7% in the first quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company’s stock valued at $36,000 after buying an additional 384 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of JOYY during the 2nd quarter valued at about $63,000. DGS Capital Management LLC raised its holdings 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 valued at $221,000 after buying an additional 211 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in JOYY during the 1st quarter worth approximately $281,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Company Profile

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.