JOYY Inc. Sponsored ADR $JOYY Stock Sold by Ritholtz Wealth Management

Ritholtz Wealth Management reduced its holdings in shares of JOYY Inc. Sponsored ADR (NASDAQ:JOYY) by 30.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,457 shares of the company’s stock after selling 10,647 shares during the period. Ritholtz Wealth Management’s holdings in JOYY were worth $1,963,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. D Orazio & Associates Inc. bought a new position in JOYY in the third quarter valued at about $542,000. OPTIMAS CAPITAL Ltd lifted its holdings in shares of JOYY by 90.7% in the third quarter. OPTIMAS CAPITAL Ltd now owns 71,500 shares of the company’s stock worth $5,738,000 after acquiring an additional 34,000 shares during the last quarter. CenterBook Partners LP bought a new position in shares of JOYY in the third quarter worth about $2,292,000. AIA Group Ltd acquired a new stake in shares of JOYY in the 3rd quarter valued at approximately $2,257,000. Finally, Moody Aldrich Partners LLC acquired a new stake in shares of JOYY in the 3rd quarter valued at approximately $933,000. 36.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

JOYY Stock Up 2.4%

JOYY stock traded up $1.91 during trading hours on Friday, hitting $80.65. The stock had a trading volume of 225,557 shares, compared to its average volume of 264,571. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 19.25 and a beta of 0.44. JOYY Inc. Sponsored ADR has a one year low of $54.24 and a one year high of $85.15. The business’s 50 day simple moving average is $80.13 and its 200-day simple moving average is $68.95.

JOYY Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend 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 (DPR) is presently 147.49%.

About JOYY

JOYY Inc. is a Singapore-headquartered internet company focused on live streaming, short-form video and online communication. Its consumer platforms include Bigo Live, where users broadcast and watch live content; Likee, a short-video creation and sharing app; and imo, a messaging and voice and video calling service. The company’s roots are in China, where it began as an online social entertainment business. It adopted the JOYY name in 2019 as it expanded its focus beyond its original market. Its platforms serve users in numerous countries, with a presence in markets across Asia, the Middle East and other regions.