Public Employees Retirement System of Ohio Has $8.20 Million Holdings in JOYY Inc. Sponsored ADR $JOYY

Public Employees Retirement System of Ohio cut its holdings in JOYY Inc. Sponsored ADR (NASDAQ:JOYY) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,411 shares of the company’s stock after selling 12,010 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.28% of JOYY worth $8,199,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Stonehill Capital Management LLC acquired a new stake in shares of JOYY in the third quarter worth about $80,885,000. New York State Common Retirement Fund increased its holdings in shares of JOYY by 8.8% during the 4th quarter. New York State Common Retirement Fund now owns 138,555 shares of the company’s stock valued at $8,973,000 after acquiring an additional 11,200 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of JOYY by 49.9% during the 1st quarter. SG Americas Securities LLC now owns 112,466 shares of the company’s stock valued at $6,567,000 after acquiring an additional 37,451 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of JOYY in the 3rd quarter valued at approximately $442,000. Finally, Atlas Capital Advisors Inc. bought a new position in shares of JOYY in the 4th quarter valued at approximately $392,000. 36.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JOYY. Citigroup reaffirmed a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Zacks Research raised shares of JOYY from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $74.67.

JOYY Price Performance

JOYY stock opened at $74.80 on Tuesday. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 17.36 and a beta of 0.46. The company has a 50-day moving average of $67.09 and a two-hundred day moving average of $63.70. JOYY Inc. Sponsored ADR has a 52-week low of $48.53 and a 52-week high of $75.55.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $6.00 annualized dividend and a dividend yield of 8.0%. This is a boost from JOYY’s previous quarterly dividend of $1.38. JOYY’s payout ratio is presently 138.75%.

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.