HUYA (NYSE:HUYA) Stock Price Down 9.4% Following Weak Earnings

Shares of HUYA Inc. (NYSE:HUYA) were down 9.4% during mid-day trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $3.40 and last traded at $3.36. Approximately 2,006,356 shares were traded during trading, an increase of 31% from the average daily volume of 1,526,927 shares. The stock had previously closed at $3.71.

The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). HUYA had a negative net margin of 2.51% and a positive return on equity of 0.30%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis.

HUYA Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 17th will be given a dividend of $1.47 per share. This represents a yield of 42.55%. The ex-dividend date is Tuesday, June 17th. HUYA’s dividend payout ratio is currently -4,900.00%.

Analyst Ratings Changes

Separately, Daiwa Capital Markets lowered HUYA from an “outperform” rating to a “neutral” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, HUYA presently has a consensus rating of “Hold” and a consensus price target of $5.68.

Institutional Trading of HUYA

Several large investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its stake in HUYA by 4,396.5% during the 4th quarter. WCM Investment Management LLC now owns 2,854,171 shares of the company’s stock valued at $8,505,000 after purchasing an additional 2,790,696 shares during the last quarter. FMR LLC grew its stake in HUYA by 236.8% during the 3rd quarter. FMR LLC now owns 2,391,957 shares of the company’s stock valued at $12,199,000 after purchasing an additional 1,681,800 shares during the last quarter. Bank of America Corp DE grew its stake in HUYA by 19.7% during the 4th quarter. Bank of America Corp DE now owns 995,747 shares of the company’s stock valued at $3,057,000 after purchasing an additional 164,112 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in HUYA by 66.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 758,281 shares of the company’s stock valued at $2,328,000 after purchasing an additional 302,988 shares during the last quarter. Finally, Monolith Management Ltd purchased a new stake in HUYA during the 4th quarter valued at about $2,144,000. Hedge funds and other institutional investors own 23.20% of the company’s stock.

HUYA Stock Performance

The firm has a market cap of $782.12 million, a PE ratio of -38.39 and a beta of 0.72. The company has a 50 day simple moving average of $3.71 and a two-hundred day simple moving average of $3.68.

About HUYA

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.