Handelsbanken Fonder AB acquired a new position in JOYY Inc. (NASDAQ:YY – Get Rating ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,400 shares of the information services provider’s stock, valued at approximately $234,000.
A number of other large investors have also modified their holdings of the company. Capital World Investors raised its position in shares of JOYY by 28.8% in the first quarter. Capital World Investors now owns 4,056,481 shares of the information services provider’s stock worth $148,995,000 after acquiring an additional 906,900 shares during the period. Vanguard Group Inc. raised its position in shares of JOYY by 4.2% in the first quarter. Vanguard Group Inc. now owns 2,022,640 shares of the information services provider’s stock valued at $74,292,000 after acquiring an additional 81,581 shares during the period. Point72 Hong Kong Ltd lifted its position in shares of JOYY by 43.9% during the third quarter. Point72 Hong Kong Ltd now owns 1,588,351 shares of the information services provider’s stock valued at $41,297,000 after acquiring an additional 484,789 shares during the period. Canada Pension Plan Investment Board raised its position in shares of JOYY by 8.2% during the third quarter. Canada Pension Plan Investment Board now owns 1,097,453 shares of the information services provider’s stock valued at $28,534,000 after acquiring an additional 83,053 shares during the period. Finally, MY.Alpha Management HK Advisors Ltd raised its stake in shares of JOYY by 49.1% in the third quarter. MY.Alpha Management HK Advisors Ltd now owns 993,990 shares of the information services provider’s stock valued at $25,843,000 after purchasing an additional 327,246 shares during the last quarter. Institutional investors and hedge funds own 42.31% of the company’s shares.
Changes in analyst ratings
YY has been the subject of a number of research reports. CLSA reduced their target price on shares of JOYY from $48.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, March 17th. Citigroup cut their target price on shares of JOYY from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, February 13th. JPMorgan Chase & Co. decreased their price objective on shares of JOYY from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, April 14th. StockNews.com assumed coverage on shares of JOYY in a research note on Thursday, March 16th. They assign a “hold” rating to the company. Finally, Benchmark reduced their price objective on shares of JOYY from $62.00 to $49.00 in a research note on Friday, March 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $41.50, according to MarketBeat.com.
JOYY Stock Performance
Shares of YY stock opened at $29.86 on Monday. The firm’s 50-day moving average is $29.83 and its 200-day moving average is $31.46. The company has a debt-to-equity ratio of 0.07, a quick earnings ratio of 1.51, and a current ratio of 1.51. JOYY Inc. has a one year low of $21.38 and a one year high of $42.84. The firm has a market cap of $2.20 billion, a P/E ratio of 41.47 and a beta of 0.51.
JOYY (NASDAQ:YY – Get Rating ) last posted its earnings results on Wednesday, March 15. The information services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.57. The company had revenue of $604.91 million for the quarter, compared to analyst estimates of $594.84 million. JOYY had a net margin of 5.34% and a return on equity of 3.06%. As a group, equities analysts predict that JOYY Inc. will post 0.85 EPS for the current year.
JOYY cuts dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Thursday, April 13th were given a $0.507 dividend. The ex-dividend date was Wednesday, April 12th. This represents an annualized dividend of $2.03 and a dividend yield of 6.79%. JOYY’s payout ratio is 281.94%.
About JOYY
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JOYY, Inc is engaged in operating a communication social platform that allows users to join online group activities in real time via voice, text and video. Its services include music and entertainment, online gaming, online dating, live game streaming, online education and advertising. It works through the BIGO and All Others segments.
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