abrdn plc Has $1.45 Million Holdings in JOYY Inc. (NASDAQ:YY)

abrdn plc boosted its holdings in shares of JOYY Inc. (NASDAQ:YYGet Rating) by 125.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,957 shares of the information services provider’s stock after acquiring an additional 21,688 shares during the quarter. abrdn plc’s holdings in JOYY were worth $1,448,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of YY. ETF Managers Group LLC lifted its holdings in shares of JOYY by 24.7% during the 4th quarter. ETF Managers Group LLC now owns 8,591 shares of the information services provider’s stock valued at $388,000 after buying an additional 1,699 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of JOYY during the 4th quarter valued at about $1,300,000. Advisor Group Holdings Inc. lifted its holdings in shares of JOYY by 2,178.7% during the 4th 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 during the last quarter. JJJ Advisors Inc. lifted its holdings in shares of JOYY by 370.3% during the 4th 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 during the last quarter. Finally, Korea Investment CORP lifted its holdings in shares of JOYY by 150.5% during the 4th quarter. Korea Investment CORP now owns 57,878 shares of the information services provider’s stock valued at $2,629,000 after buying an additional 34,774 shares during the last quarter. 78.48% of the stock is currently owned by institutional investors and hedge funds.

JOYY Stock Down 2.9 %

Shares of YY stock opened at $25.13 on Tuesday. The stock’s 50 day simple moving average is $30.87 and its 200 day simple moving average is $38.32. 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 twelve month low of $23.14 and a twelve month high of $67.67. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -27.32 and a beta of 0.61.

JOYY (NASDAQ:YYGet Rating) last issued its quarterly earnings data on Tuesday, May 31st. The information services provider reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.68). JOYY had a negative net margin of 2.24% and a positive return on equity of 2.62%. During the same period in the prior year, the company earned ($0.30) earnings per share. As a group, research analysts predict that JOYY Inc. will post 0.02 EPS for the current year.

JOYY Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Thursday, June 23rd were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 8.12%. The ex-dividend date of this dividend was Wednesday, June 22nd. JOYY’s dividend payout ratio is currently -220.65%.

Analyst Upgrades and Downgrades

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

JOYY Profile

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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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