JOYY Inc. (NASDAQ:YY – Get Rating) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,330,000 shares, an increase of 22.9% from the January 15th total of 2,710,000 shares. Currently, 6.2% of the company’s shares are sold short. Based on an average daily trading volume, of 672,200 shares, the short-interest ratio is currently 5.0 days.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on YY shares. Citigroup lowered their price objective on shares of JOYY from $47.00 to $46.00 in a research report on Wednesday, November 30th. TheStreet upgraded shares of JOYY from a “d+” rating to a “c” rating in a research note on Friday, December 9th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.33.
Hedge Funds Weigh In On JOYY
A number of institutional investors and hedge funds have recently bought and sold shares of YY. Capital World Investors raised its stake in shares of JOYY by 28.8% in the 1st quarter. Capital World Investors now owns 4,056,481 shares of the information services provider’s stock valued at $148,995,000 after acquiring an additional 906,900 shares during the period. Vanguard Group Inc. grew its holdings in JOYY by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 2,022,640 shares of the information services provider’s stock worth $74,292,000 after acquiring an additional 81,581 shares in the last quarter. Point72 Hong Kong Ltd boosted its holdings in shares of JOYY by 43.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 1,588,351 shares of the information services provider’s stock valued at $41,297,000 after buying an additional 484,789 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of JOYY by 8.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,097,453 shares of the information services provider’s stock valued at $28,534,000 after buying an additional 83,053 shares in the last quarter. Finally, MY.Alpha Management HK Advisors Ltd boosted its holdings in shares of JOYY by 49.1% in the 3rd quarter. MY.Alpha Management HK Advisors Ltd now owns 993,990 shares of the information services provider’s stock valued at $25,843,000 after buying an additional 327,246 shares in the last quarter. 42.31% of the stock is currently owned by institutional investors and hedge funds.
JOYY Trading Down 4.7 %
NASDAQ YY opened at $34.85 on Friday. The company has a fifty day simple moving average of $35.20 and a two-hundred day simple moving average of $30.14. The stock has a market cap of $2.72 billion, a P/E ratio of 5.01 and a beta of 0.52. JOYY has a 12-month low of $21.38 and a 12-month high of $53.55. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.07.
JOYY (NASDAQ:YY – Get Rating) last issued its earnings results on Monday, November 28th. The information services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.47. JOYY had a net margin of 23.37% and a return on equity of 4.02%. The firm had revenue of $586.73 million during the quarter, compared to analysts’ expectations of $580.16 million. On average, analysts forecast that JOYY will post 1.61 earnings per share for the current year.
JOYY Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 23rd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 5.85%. The ex-dividend date of this dividend was Thursday, December 22nd. This is a positive change from JOYY’s previous quarterly dividend of $0.51. JOYY’s dividend payout ratio (DPR) is currently 29.21%.
About JOYY
JOYY, Inc engages in managing a communication social platform, which enables users to join real-time online group activities through voice, text, and video. Its services include music and entertainment, online games, online dating, live game broadcasting, online education, and advertising. It operates through following segments: Live Streaming, Online Games, Membership and Others.