Shell Asset Management Co. Purchases 2,400 Shares of JOYY Inc. (NASDAQ:YY)

Shell Asset Management Co. raised its position in shares of JOYY Inc. (NASDAQ:YYGet Rating) by 12.1% during the first quarter, HoldingsChannel.com reports. The fund owned 22,165 shares of the information services provider’s stock after buying an additional 2,400 shares during the quarter. Shell Asset Management Co.’s holdings in JOYY were worth $814,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of YY. JJJ Advisors Inc. boosted its position in shares of JOYY by 370.3% during the 4th quarter. JJJ Advisors Inc. now owns 729 shares of the information services provider’s stock worth $33,000 after purchasing an additional 574 shares in the last quarter. IndexIQ Advisors LLC bought a new position in shares of JOYY during the 4th quarter worth about $36,000. Quadrant Capital Group LLC boosted its position in shares of JOYY by 28.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,436 shares of the information services provider’s stock worth $65,000 after purchasing an additional 315 shares in the last quarter. Tobam boosted its position in shares of JOYY by 82.4% during the 1st quarter. Tobam now owns 2,019 shares of the information services provider’s stock worth $74,000 after purchasing an additional 912 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of JOYY by 41.4% during the 1st quarter. Signaturefd LLC now owns 2,601 shares of the information services provider’s stock worth $96,000 after purchasing an additional 762 shares in the last quarter. Institutional investors own 78.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on YY shares. TheStreet cut shares of JOYY from a “c-” rating to a “d+” rating in a research report on Friday, July 22nd. JPMorgan Chase & Co. upgraded shares of JOYY from an “underweight” rating to a “neutral” rating and set a $40.00 target price on the stock in a report on Monday, May 16th. Finally, Morgan Stanley lowered shares of JOYY from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $53.00.

JOYY Trading Down 1.5 %

YY opened at $25.89 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market capitalization of $2.02 billion, a PE ratio of -28.14 and a beta of 0.73. JOYY Inc. has a fifty-two week low of $23.14 and a fifty-two week high of $67.67. The company’s 50-day moving average is $31.15 and its 200 day moving average is $38.51.

JOYY (NASDAQ:YYGet Rating) last posted its quarterly earnings data on Tuesday, May 31st. The information services provider reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.38 by ($0.68). JOYY had a negative net margin of 2.24% and a positive return on equity of 2.62%. During the same quarter in the previous year, the business posted ($0.30) earnings per share. As a group, research analysts predict that JOYY Inc. will post -0.48 earnings per share for the current fiscal year.

JOYY Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Thursday, June 23rd were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 7.88%. The ex-dividend date was Wednesday, June 22nd. JOYY’s dividend payout ratio is currently -220.65%.

JOYY Company Profile

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JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc..

Further Reading

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Institutional Ownership by Quarter for JOYY (NASDAQ:YY)

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