Victory Capital Management Inc. Grows Stock Holdings in JOYY Inc. (NASDAQ:YY)

Victory Capital Management Inc. raised its position in shares of JOYY Inc. (NASDAQ:YYGet Rating) by 9.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,520 shares of the information services provider’s stock after buying an additional 620 shares during the quarter. Victory Capital Management Inc.’s holdings in JOYY were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of YY. Signaturefd LLC raised its position 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 purchasing an additional 762 shares during the last quarter. Daiwa Securities Group Inc. raised its position in JOYY by 240.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,400 shares of the information services provider’s stock worth $125,000 after buying an additional 2,400 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in JOYY by 258.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,439 shares of the information services provider’s stock worth $131,000 after buying an additional 2,479 shares during the last quarter. GSA Capital Partners LLP raised its position in JOYY by 12.7% during the 1st quarter. GSA Capital Partners LLP now owns 6,759 shares of the information services provider’s stock worth $248,000 after buying an additional 762 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in JOYY during the 1st quarter worth approximately $275,000. 43.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on YY. StockNews.com lowered shares of JOYY from a “buy” rating to a “hold” rating in a research report on Friday, October 14th. TheStreet lowered shares of JOYY from a “c-” rating to a “d+” rating in a research report on Friday, July 22nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.00.

JOYY Price Performance

Shares of NASDAQ YY opened at $28.00 on Friday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 37.84 and a beta of 0.54. JOYY Inc. has a 12 month low of $21.38 and a 12 month high of $57.58. The firm’s 50 day simple moving average is $26.82 and its 200-day simple moving average is $30.16. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.60 and a quick ratio of 1.60.

JOYY (NASDAQ:YYGet Rating) last issued its quarterly earnings data on Monday, August 29th. The information services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.49. The business had revenue of $596.10 million for the quarter, compared to analysts’ expectations of $590.85 million. JOYY had a net margin of 2.75% and a return on equity of 3.47%. During the same quarter last year, the company earned ($0.01) EPS. Analysts expect that JOYY Inc. will post 1.4 EPS for the current year.

JOYY Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Thursday, September 22nd were paid a $0.507 dividend. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $2.03 dividend on an annualized basis and a yield of 7.24%. JOYY’s dividend payout ratio is currently 274.32%.

JOYY 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..

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Institutional Ownership by Quarter for JOYY (NASDAQ:YY)

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