JOYY Inc. Sponsored ADR $JOYY Shares Newly Acquired by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC acquired a new stake in JOYY Inc. Sponsored ADR (NASDAQ:JOYY) in the third quarter, HoldingsChannel reports. The firm acquired 11,631 shares of the company’s stock, valued at approximately $933,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. acquired a new stake in JOYY during the third quarter worth approximately $2,383,000. Signaturefd LLC acquired a new position in JOYY in the 3rd quarter valued at $266,000. Ramsey Quantitative Systems acquired a new position in JOYY in the 3rd quarter valued at $45,000. SBI Securities Co. Ltd. acquired a new position in JOYY in the 3rd quarter valued at $31,000. Finally, Vest Financial LLC lifted its stake in shares of JOYY by 21.9% during the 3rd quarter. Vest Financial LLC now owns 30,965 shares of the company’s stock worth $2,485,000 after purchasing an additional 5,555 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Benchmark restated a “buy” rating on shares of JOYY in a report on Wednesday, August 26th. JPMorgan Chase & Co. upgraded JOYY from a “neutral” rating to an “overweight” rating and upped their target price for the company from $35.00 to $98.00 in a research note on Wednesday, August 12th. Citigroup reiterated a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Weiss Ratings upgraded JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $87.00 price target on shares of JOYY in a research note on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.40.

JOYY Stock Up 7.2%

NASDAQ:JOYY opened at $80.83 on Friday. The company has a market cap of $3.96 billion, a P/E ratio of 19.29 and a beta of 0.38. JOYY Inc. Sponsored ADR has a fifty-two week low of $54.24 and a fifty-two week high of $85.15. The firm’s 50 day moving average is $78.82 and its two-hundred day moving average is $68.32.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Wednesday, September 30th were issued a $1.55 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $6.20 annualized dividend and a yield of 7.7%. This is an increase from JOYY’s previous quarterly dividend of $1.50. JOYY’s payout ratio is currently 147.49%.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a global technology company that operates video-based social media and live-streaming platforms. The company’s services enable users to share live video, create and view short-form content, communicate through messaging and voice services, and participate in online communities.

JOYY’s principal products include BIGO LIVE, a live-streaming platform; Likee, a short-form video and creation platform; and imo, an instant messaging and voice and video communication service.