JOYY Inc. Sponsored ADR $JOYY Shares Bought by OPTIMAS CAPITAL Ltd

OPTIMAS CAPITAL Ltd grew its stake in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) by 90.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 71,500 shares of the company’s stock after acquiring an additional 34,000 shares during the period. JOYY accounts for 7.6% of OPTIMAS CAPITAL Ltd’s holdings, making the stock its 8th biggest position. OPTIMAS CAPITAL Ltd’s holdings in JOYY were worth $5,738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of JOYY. SBI Securities Co. Ltd. purchased a new stake in shares of JOYY during the third quarter worth $31,000. Ramsey Quantitative Systems purchased a new position in JOYY in the third quarter valued at about $45,000. EverSource Wealth Advisors LLC grew its stake in 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 purchasing an additional 384 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in JOYY in the second quarter valued at about $65,000. Finally, Nykredit A S acquired a new position in JOYY in the 2nd quarter worth about $110,000. 36.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of JOYY in a research note on Wednesday, July 22nd. Weiss Ratings upgraded JOYY from a “hold (c-)” rating to a “buy (b)” rating in a report on Friday, August 28th. JPMorgan Chase & Co. raised JOYY from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $35.00 to $98.00 in a research note on Wednesday, August 12th. Jefferies Financial Group restated a “buy” rating and issued a $87.00 price objective on shares of JOYY in a report on Wednesday, August 26th. Finally, Morgan Stanley set a $74.00 price objective on shares of JOYY in a research report on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.40.

JOYY Price Performance

Shares of JOYY stock traded up $0.91 on Friday, hitting $80.91. The company’s stock had a trading volume of 269,001 shares, compared to its average volume of 269,114. JOYY Inc. Sponsored ADR has a fifty-two week low of $54.24 and a fifty-two week high of $85.15. The firm’s fifty day moving average price is $79.53 and its 200-day moving average price is $68.64. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 19.31 and a beta of 0.44.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 7.7%. This is an increase from JOYY’s previous quarterly dividend of $1.50. The ex-dividend date was Wednesday, September 30th. JOYY’s dividend payout ratio is 147.49%.

JOYY Profile

JOYY Inc (NASDAQ: JOYY) is a global technology company that operates video-based social media and live-streaming platforms. The company’s services enable users to share live video, create and view short-form content, communicate through messaging and voice services, and participate in online communities.

JOYY’s principal products include BIGO LIVE, a live-streaming platform; Likee, a short-form video and creation platform; and imo, an instant messaging and voice and video communication service.