Millennium Management LLC Acquires New Position in HUYA Inc. (NYSE:HUYA)

Millennium Management LLC acquired a new stake in shares of HUYA Inc. (NYSE:HUYA) in the second quarter, HoldingsChannel reports. The institutional investor acquired 1,315,811 shares of the company’s stock, valued at approximately $5,197,000.

Other hedge funds also recently made changes to their positions in the company. Bayesian Capital Management LP lifted its holdings in HUYA by 22.0% in the 1st quarter. Bayesian Capital Management LP now owns 19,374 shares of the company’s stock worth $88,000 after purchasing an additional 3,500 shares in the last quarter. Headlands Technologies LLC purchased a new position in HUYA in the 2nd quarter worth approximately $205,000. Susquehanna Fundamental Investments LLC purchased a new position in HUYA in the 1st quarter worth approximately $222,000. Commonwealth Equity Services LLC purchased a new position in HUYA in the 2nd quarter worth approximately $291,000. Finally, Sei Investments Co. lifted its holdings in HUYA by 432.5% in the 2nd quarter. Sei Investments Co. now owns 77,261 shares of the company’s stock worth $305,000 after purchasing an additional 62,753 shares in the last quarter. 23.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on HUYA shares. Citigroup raised HUYA from a “sell” rating to a “buy” rating and boosted their price target for the stock from $2.40 to $6.00 in a report on Wednesday, August 14th. HSBC reaffirmed a “hold” rating and set a $4.70 price objective on shares of HUYA in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, HUYA has an average rating of “Moderate Buy” and a consensus price target of $6.38.

HUYA Price Performance

Shares of HUYA opened at $4.31 on Friday. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -47.89 and a beta of 0.60. HUYA Inc. has a 1 year low of $2.82 and a 1 year high of $6.84. The business’s 50 day simple moving average is $4.47 and its 200-day simple moving average is $4.55.

HUYA (NYSE:HUYA) last released its earnings results on Tuesday, August 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.35. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. HUYA had a positive return on equity of 0.53% and a negative net margin of 2.69%. The company’s revenue for the quarter was down 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. On average, sell-side analysts expect that HUYA Inc. will post 0.17 earnings per share for the current year.

HUYA Increases Dividend

The business also recently announced a — dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a dividend of $1.06 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This is an increase from HUYA’s previous — dividend of $0.64.

HUYA 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.