Shell Asset Management Co. Has $814,000 Stock Position in JOYY Inc. (NASDAQ:YY)

Shell Asset Management Co. increased its holdings in shares of JOYY Inc. (NASDAQ:YYGet Rating) by 12.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 22,165 shares of the information services provider’s stock after purchasing an additional 2,400 shares during the period. Shell Asset Management Co.’s holdings in JOYY were worth $814,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quadrant Capital Group LLC raised its position in shares of JOYY by 28.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,436 shares of the information services provider’s stock valued at $65,000 after buying an additional 315 shares in the last quarter. JJJ Advisors Inc. raised its position in shares of JOYY by 370.3% in the fourth quarter. JJJ Advisors Inc. now owns 729 shares of the information services provider’s stock valued at $33,000 after buying an additional 574 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of JOYY by 43.5% in the fourth quarter. New York State Common Retirement Fund now owns 89,298 shares of the information services provider’s stock valued at $4,057,000 after buying an additional 27,059 shares in the last quarter. Advisor Group Holdings Inc. raised its position in shares of JOYY by 2,178.7% in the fourth quarter. Advisor Group Holdings Inc. now owns 11,895 shares of the information services provider’s stock valued at $540,000 after buying an additional 11,373 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in JOYY during the fourth quarter valued at approximately $415,000. Institutional investors own 78.48% of the company’s stock.

JOYY Stock Down 1.5 %

Shares of NASDAQ:YY opened at $25.89 on Monday. The company has a fifty day moving average of $31.15 and a 200-day moving average of $38.51. The company has a market capitalization of $2.02 billion, a PE ratio of -28.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.96 and a current ratio of 1.96. JOYY Inc. has a 52-week low of $23.14 and a 52-week high of $67.67.

JOYY (NASDAQ:YYGet Rating) last announced its quarterly earnings results on Tuesday, May 31st. The information services provider reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.68). JOYY had a positive return on equity of 2.62% and a negative net margin of 2.24%. During the same quarter last year, the company earned ($0.30) EPS. On average, equities analysts predict that JOYY Inc. will post -0.48 EPS for the current fiscal year.

JOYY Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Investors of record on Thursday, June 23rd were paid a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, June 22nd. This represents a $2.04 annualized dividend and a dividend yield of 7.88%. JOYY’s dividend payout ratio is -220.65%.

Analyst Ratings Changes

YY has been the subject of several research analyst reports. Morgan Stanley downgraded shares of JOYY from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 1st. JPMorgan Chase & Co. upgraded shares of JOYY from an “underweight” rating to a “neutral” rating and set a $40.00 price objective for the company in a research report on Monday, May 16th. Finally, TheStreet downgraded shares of JOYY from a “c-” rating to a “d+” rating in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.00.

About JOYY

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JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc..

Further Reading

Institutional Ownership by Quarter for JOYY (NASDAQ:YY)

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