OVERSEA CHINESE BANKING Corp Ltd Takes $1.19 Million Position in JOYY Inc. Sponsored ADR $JOYY

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in JOYY Inc. Sponsored ADR (NASDAQ:JOYY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,285 shares of the company’s stock, valued at approximately $1,189,000.

Separately, Farther Finance Advisors LLC purchased a new position in JOYY in the third quarter valued at about $35,000. 36.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JOYY has been the topic of a number of research reports. Zacks Research upgraded JOYY from a “hold” rating to a “strong-buy” rating in a report on Friday, December 12th. Wall Street Zen downgraded shares of JOYY from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings raised shares of JOYY from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Citigroup raised their price objective on shares of JOYY from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley set a $66.00 price target on JOYY in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $72.00.

JOYY Stock Down 0.0%

Shares of JOYY stock opened at $69.89 on Friday. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 2.16 and a beta of 0.36. JOYY Inc. Sponsored ADR has a one year low of $37.53 and a one year high of $70.96. The stock’s 50 day moving average is $64.01.

JOYY Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, January 13th. Investors of record on Friday, January 2nd were given a dividend of $0.97 per share. This is a boost from JOYY’s previous dividend of $0.95. The ex-dividend date of this dividend was Friday, January 2nd. JOYY’s dividend payout ratio is currently 11.94%.

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.