Credit Suisse AG decreased its position in JOYY Inc. (NASDAQ:YY – Get Rating) by 77.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 640,478 shares of the information services provider’s stock after selling 2,200,911 shares during the period. Credit Suisse AG owned approximately 0.82% of JOYY worth $20,239,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in JOYY by 31.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock worth $45,000 after purchasing an additional 343 shares during the period. Desjardins Global Asset Management Inc. boosted its stake in JOYY by 4.5% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 8,143 shares of the information services provider’s stock worth $257,000 after purchasing an additional 350 shares during the period. ETF Managers Group LLC boosted its stake in JOYY by 4.6% in the 3rd quarter. ETF Managers Group LLC now owns 9,990 shares of the information services provider’s stock worth $260,000 after purchasing an additional 435 shares during the period. Franklin Resources Inc. boosted its stake in JOYY by 5.8% in the 4th quarter. Franklin Resources Inc. now owns 10,959 shares of the information services provider’s stock worth $346,000 after purchasing an additional 600 shares during the period. Finally, Prudential PLC boosted its stake in JOYY by 5.9% in the 4th quarter. Prudential PLC now owns 11,725 shares of the information services provider’s stock worth $370,000 after purchasing an additional 656 shares during the period. Institutional investors and hedge funds own 42.31% of the company’s stock.
JOYY Stock Down 0.7 %
Shares of YY opened at $28.97 on Thursday. JOYY Inc. has a 52 week low of $21.38 and a 52 week high of $39.50. The firm has a market cap of $2.13 billion, a P/E ratio of 19.57 and a beta of 0.50. The firm’s 50-day simple moving average is $29.20 and its 200 day simple moving average is $31.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.50 and a current ratio of 1.50.
JOYY Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend is Tuesday, June 20th. This is a positive change from JOYY’s previous quarterly dividend of $0.51. JOYY’s dividend payout ratio is presently 137.16%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on YY shares. Citigroup cut their price target on shares of JOYY from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, February 13th. CLSA dropped their target price on shares of JOYY from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, March 17th. Benchmark dropped their target price on shares of JOYY from $62.00 to $49.00 in a report on Friday, March 17th. StockNews.com assumed coverage on shares of JOYY in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of JOYY from $35.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, April 14th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, JOYY presently has an average rating of “Moderate Buy” and an average price target of $41.50.
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 the BIGO and All Other segments.
Further Reading
- Get a free copy of the StockNews.com research report on JOYY (YY)
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