JOYY Inc. (YY) to Issue Quarterly Dividend of $0.51 on April 28th

JOYY Inc. (NASDAQ:YY – Get Rating) announced a quarterly dividend on Wednesday, March 15th, Zacks reports. Shareholders of record on Thursday, April 13th will be paid a dividend of 0.507 per share by the information services provider on Friday, April 28th. This represents a $2.03 dividend on an annualized basis and a dividend yield of 7.24%. The ex-dividend date is Wednesday, April 12th.

JOYY Price Performance

Shares of JOYY stock opened at $28.00 on Friday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 4.03 and a beta of 0.54. JOYY has a twelve month low of $21.38 and a twelve month high of $47.23. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $34.35 and its 200-day simple moving average is $30.83.

Institutional Investors Weigh In On JOYY

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its position in JOYY by 31.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock worth $45,000 after purchasing an additional 343 shares during the period. Vestcor Inc boosted its holdings in JOYY by 2,183.5% during the fourth quarter. Vestcor Inc now owns 6,919 shares of the information services provider’s stock valued at $219,000 after acquiring an additional 6,616 shares during the period. Squarepoint Ops LLC acquired a new position in shares of JOYY during the 4th quarter worth about $231,000. Prudential Financial Inc. acquired a new position in shares of JOYY during the first quarter worth approximately $275,000. Finally, Nomura Holdings Inc. bought a new stake in JOYY in the 4th quarter valued at $284,000. 42.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com assumed coverage on JOYY in a research note on Thursday. They set a “hold” rating on the stock. CLSA decreased their target price on shares of JOYY from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Friday. Citigroup dropped their price target on shares of JOYY from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, February 13th. Benchmark lowered their price objective on shares of JOYY from $62.00 to $49.00 in a research note on Friday. Finally, TheStreet upgraded JOYY from a “d+” rating to a “c” rating in a research report on Friday, December 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, JOYY presently has a consensus rating of “Hold” and an average target price of $44.00.

JOYY Company Profile

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JOYY, Inc engages in managing a communication social platform, which enables users to join real-time online group activities through voice, text, and video. Its services include music and entertainment, online games, online dating, live game broadcasting, online education, and advertising. It operates through following segments: Live Streaming, Online Games, Membership and Others.