JOYY (NASDAQ:YY) Shares Gap Down to $27.68

JOYY Inc. (NASDAQ:YYGet Rating)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $27.68, but opened at $27.00. JOYY shares last traded at $26.95, with a volume of 2,192 shares changing hands.

Wall Street Analysts Forecast Growth

YY has been the subject of a number of recent analyst reports. TheStreet cut JOYY from a “c-” rating to a “d+” rating in a research note on Friday, July 22nd. Morgan Stanley cut JOYY from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.00.

JOYY Trading Down 0.6 %

The business has a 50 day moving average of $27.61 and a 200-day moving average of $33.18. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.07 billion, a P/E ratio of 35.82 and a beta of 0.54.

JOYY (NASDAQ:YYGet Rating) last posted its earnings results on Monday, August 29th. The information services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.45. JOYY had a return on equity of 3.47% and a net margin of 2.75%. During the same quarter in the previous year, the business posted ($0.01) earnings per share. Analysts anticipate that JOYY Inc. will post 1.4 EPS for the current fiscal year.

JOYY Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Thursday, September 22nd will be given a dividend of $0.507 per share. This represents a $2.03 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date is Wednesday, September 21st. JOYY’s dividend payout ratio (DPR) is currently 274.32%.

Hedge Funds Weigh In On JOYY

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of JOYY by 4.7% in the 1st quarter. Victory Capital Management Inc. now owns 6,900 shares of the information services provider’s stock valued at $273,000 after buying an additional 307 shares during the last quarter. US Bancorp DE boosted its holdings in shares of JOYY by 23.2% in the 2nd quarter. US Bancorp DE now owns 2,143 shares of the information services provider’s stock valued at $64,000 after buying an additional 404 shares during the last quarter. abrdn plc boosted its holdings in shares of JOYY by 3.3% in the 4th quarter. abrdn plc now owns 17,269 shares of the information services provider’s stock valued at $784,000 after buying an additional 550 shares during the last quarter. Profund Advisors LLC boosted its holdings in shares of JOYY by 5.2% in the 2nd quarter. Profund Advisors LLC now owns 13,016 shares of the information services provider’s stock valued at $389,000 after buying an additional 645 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of JOYY by 41.4% in the 1st quarter. Signaturefd LLC now owns 2,601 shares of the information services provider’s stock valued at $96,000 after buying an additional 762 shares during the last quarter. Institutional investors and hedge funds own 43.07% of the company’s stock.

About JOYY

(Get Rating)

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..

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