Moody Aldrich Partners LLC Purchases New Position in JOYY Inc. Sponsored ADR $JOYY

Moody Aldrich Partners LLC bought a new stake in JOYY Inc. Sponsored ADR (NASDAQ:JOYY) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 11,631 shares of the company’s stock, valued at approximately $933,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. acquired a new position in JOYY in the third quarter valued at $2,383,000. Signaturefd LLC acquired a new stake in shares of JOYY during the third quarter worth about $266,000. Ramsey Quantitative Systems acquired a new stake in shares of JOYY during the third quarter worth about $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of JOYY in the 3rd quarter valued at about $31,000. Finally, Vest Financial LLC boosted its position in shares of JOYY by 21.9% in the 3rd quarter. Vest Financial LLC now owns 30,965 shares of the company’s stock valued at $2,485,000 after purchasing an additional 5,555 shares during the period. 36.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JOYY shares. Morgan Stanley set a $74.00 price target on JOYY in a research note on Wednesday, August 26th. Benchmark reiterated a “buy” rating on shares of JOYY in a research note on Wednesday, August 26th. Citigroup reissued a “buy” rating on shares of JOYY in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of JOYY from a “hold (c-)” rating to a “buy (b)” rating in a research report on Friday, August 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $87.00 target price on shares of JOYY in a report on Wednesday, August 26th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.40.

JOYY Stock Up 7.2%

Shares of JOYY opened at $80.83 on Friday. The company has a market capitalization of $3.96 billion, a PE ratio of 19.29 and a beta of 0.38. The company has a 50-day simple moving average of $78.82 and a 200-day simple moving average of $68.32. JOYY Inc. Sponsored ADR has a 52-week low of $54.24 and a 52-week high of $85.15.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th were paid a dividend of $1.55 per share. This is a positive change from JOYY’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 7.7%. JOYY’s dividend payout ratio is 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.