HUYA (NYSE:HUYA) Shares Gap Down Following Weak Earnings

Shares of HUYA Inc. (NYSE:HUYA) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $4.54, but opened at $4.30. HUYA shares last traded at $3.74, with a volume of 2,317,939 shares traded.

The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.53 billion. HUYA had a negative net margin of 2.51% and a positive return on equity of 0.30%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 earnings per share.

HUYA Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be paid a dividend of $1.47 per share. This represents a dividend yield of 42.55%. The ex-dividend date of this dividend is Tuesday, June 17th. HUYA’s dividend payout ratio is currently -4,900.00%.

Analyst Upgrades and Downgrades

Separately, Daiwa Capital Markets cut shares of HUYA from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.68.

Hedge Funds Weigh In On HUYA

Institutional investors have recently bought and sold shares of the stock. WCM Investment Management LLC grew its stake in HUYA by 4,396.5% during the 4th quarter. WCM Investment Management LLC now owns 2,854,171 shares of the company’s stock valued at $8,505,000 after acquiring an additional 2,790,696 shares in the last quarter. FMR LLC grew its stake in HUYA by 236.8% during the 3rd quarter. FMR LLC now owns 2,391,957 shares of the company’s stock valued at $12,199,000 after acquiring an additional 1,681,800 shares in the last quarter. Bank of America Corp DE grew its stake in HUYA by 19.7% during the 4th quarter. Bank of America Corp DE now owns 995,747 shares of the company’s stock valued at $3,057,000 after acquiring an additional 164,112 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in HUYA by 66.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 758,281 shares of the company’s stock valued at $2,328,000 after acquiring an additional 302,988 shares in the last quarter. Finally, Monolith Management Ltd purchased a new position in HUYA during the 4th quarter valued at about $2,144,000. Hedge funds and other institutional investors own 23.20% of the company’s stock.

HUYA Stock Performance

The company has a 50 day simple moving average of $3.71 and a two-hundred day simple moving average of $3.68. The company has a market cap of $782.12 million, a PE ratio of -38.39 and a beta of 0.72.

HUYA Company Profile

HUYA Inc, together with its subsidiaries, operates game live streaming platforms in the People's Republic of China. Its platforms enable broadcasters and viewers to interact during live streaming. The company's live streaming content also covers other entertainment content, such as talent shows, anime, outdoor activities, live chats, and other genres.