California Public Employees Retirement System lowered its stake in shares of JOYY Inc. (NASDAQ:YY – Get Rating) by 16.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,563 shares of the information services provider's stock after selling 16,733 shares during the period. California Public Employees Retirement System owned about 0.11% of JOYY worth $2,615,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of YY. US Bancorp DE raised its holdings in shares of JOYY by 23.2% during the 2nd quarter. US Bancorp DE now owns 2,143 shares of the information services provider's stock valued at $64,000 after purchasing an additional 404 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of JOYY by 12.7% during the 1st quarter. GSA Capital Partners LLP now owns 6,759 shares of the information services provider's stock valued at $248,000 after purchasing an additional 762 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of JOYY by 4.7% during the 1st quarter. Victory Capital Management Inc. now owns 6,900 shares of the information services provider's stock valued at $273,000 after purchasing an additional 307 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of JOYY during the 1st quarter valued at $275,000. Finally, Verition Fund Management LLC bought a new position in shares of JOYY during the 1st quarter valued at $336,000. Institutional investors and hedge funds own 43.07% of the company's stock.
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Shares of YY opened at $27.11 on Friday. The company has a market capitalization of $2.11 billion, a PE ratio of 36.64 and a beta of 0.54. JOYY Inc. has a one year low of $21.38 and a one year high of $55.21. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.60 and a quick ratio of 1.60. The company's fifty day moving average price is $26.83 and its 200 day moving average price is $29.39.
JOYY (NASDAQ:YY – Get Rating) last announced its earnings results on Monday, August 29th. The information services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.05 by $0.49. The firm had revenue of $596.10 million for the quarter, compared to the consensus estimate of $590.85 million. JOYY had a net margin of 2.75% and a return on equity of 3.47%. During the same quarter last year, the firm posted ($0.01) EPS. As a group, analysts expect that JOYY Inc. will post 1.4 earnings per share for the current year.JOYY Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Thursday, September 22nd were issued a $0.507 dividend. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $2.03 annualized dividend and a yield of 7.48%. JOYY's dividend payout ratio (DPR) is presently 274.32%.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of JOYY from a "buy" rating to a "hold" rating in a report on Friday, October 14th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.00.
JOYY Company 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..
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