JOYY (NASDAQ:JOYY) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of JOYY (NASDAQ:JOYY) from a neutral rating to an overweight rating in a research report released on Wednesday morning, Marketbeat Ratings reports. They currently have $98.00 target price on the stock, up from their prior target price of $35.00.

Several other research analysts also recently commented on JOYY. Citigroup restated a “buy” rating on shares of JOYY in a research report on Wednesday, July 22nd. Zacks Research raised JOYY from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, JOYY has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.

JOYY Trading Up 1.2%

NASDAQ:JOYY opened at $73.02 on Wednesday. The stock has a market cap of $3.65 billion, a P/E ratio of 16.94 and a beta of 0.47. JOYY has a 1-year low of $48.53 and a 1-year high of $76.68. The stock has a 50 day simple moving average of $70.22 and a 200 day simple moving average of $64.25.

JOYY Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, June 29th. This is a positive change from JOYY’s previous quarterly dividend of $1.38. This represents a $6.00 dividend on an annualized basis and a dividend yield of 8.2%. JOYY’s dividend payout ratio (DPR) is 138.75%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. purchased a new stake in JOYY in the third quarter worth $442,000. Public Employees Retirement System of Ohio purchased a new position in shares of JOYY in the third quarter valued at $9,204,000. Sittner & Nelson LLC bought a new stake in shares of JOYY during the 3rd quarter valued at $29,000. Stonehill Capital Management LLC purchased a new stake in JOYY during the 3rd quarter worth about $80,885,000. Finally, New York State Common Retirement Fund boosted its stake in JOYY by 8.8% in the 4th quarter. New York State Common Retirement Fund now owns 138,555 shares of the company’s stock worth $8,973,000 after purchasing an additional 11,200 shares during the period. Institutional investors own 36.83% of the company’s stock.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.