JOYY (NASDAQ:JOYY) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of JOYY (NASDAQ:JOYY) from a hold rating to a strong sell rating in a report released on Thursday,Zacks.com reports.

A number of other research firms also recently issued reports on JOYY. Citigroup boosted their target price on shares of JOYY from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Wall Street Zen downgraded JOYY from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Morgan Stanley set a $66.00 price objective on JOYY in a report on Monday, November 24th. Weiss Ratings restated a “hold (c-)” rating on shares of JOYY in a research note on Thursday, January 22nd. Finally, UBS Group started coverage on JOYY in a report on Wednesday, March 11th. They set a “buy” rating and a $80.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, JOYY presently has an average rating of “Hold” and an average price target of $74.67.

JOYY Price Performance

Shares of NASDAQ JOYY opened at $58.76 on Thursday. The firm has a 50-day simple moving average of $63.62 and a two-hundred day simple moving average of $62.34. The company has a market cap of $3.02 billion, a P/E ratio of 1.51 and a beta of 0.36. JOYY has a 1 year low of $37.53 and a 1 year high of $70.96.

JOYY Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Wednesday, April 22nd will be paid a $1.38 dividend. The ex-dividend date of this dividend is Wednesday, April 22nd. This represents a $5.52 dividend on an annualized basis and a yield of 9.4%. JOYY’s dividend payout ratio (DPR) is currently 14.09%.

Institutional Investors Weigh In On JOYY

Large investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of JOYY during the third quarter valued at approximately $27,000. Sittner & Nelson LLC acquired a new stake in shares of JOYY in the third quarter worth approximately $29,000. Farther Finance Advisors LLC acquired a new stake in shares of JOYY in the third quarter worth approximately $35,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of JOYY during the third quarter worth approximately $87,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of JOYY during the third quarter worth approximately $142,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.