HUYA (NYSE:HUYA) Shares Down 9.4% on Disappointing Earnings

HUYA Inc. (NYSE:HUYA)’s share price dropped 9.4% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $3.40 and last traded at $3.36. Approximately 2,006,356 shares changed hands during mid-day 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 for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.53 billion. HUYA had a negative net margin of 2.51% and a positive return on equity of 0.30%. HUYA’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share.

HUYA Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th will be issued a $1.47 dividend. The ex-dividend date is Tuesday, June 17th. This represents a yield of 42.55%. HUYA’s dividend payout ratio is presently -4,900.00%.

Wall Street Analyst Weigh In

HUYA has been the subject of a number of research analyst reports. Daiwa America cut HUYA from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Daiwa Capital Markets cut HUYA from an “outperform” rating to a “neutral” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.68.

Institutional Investors Weigh In On HUYA

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its position in shares of HUYA by 2.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 142,865 shares of the company’s stock valued at $439,000 after buying an additional 3,545 shares during the last quarter. Quantbot Technologies LP grew its position in shares of HUYA by 18.9% in the 3rd quarter. Quantbot Technologies LP now owns 23,224 shares of the company’s stock valued at $118,000 after buying an additional 3,685 shares during the last quarter. Smith Anglin Financial LLC grew its position in shares of HUYA by 27.9% in the 4th quarter. Smith Anglin Financial LLC now owns 18,367 shares of the company’s stock valued at $56,000 after buying an additional 4,002 shares during the last quarter. Formidable Asset Management LLC boosted its position in shares of HUYA by 7.2% during the 4th quarter. Formidable Asset Management LLC now owns 108,000 shares of the company’s stock valued at $332,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Seldon Capital LP bought a new stake in shares of HUYA during the 3rd quarter valued at about $51,000. Institutional investors own 23.20% of the company’s stock.

HUYA Trading Down 7.4 %

The firm has a 50-day moving average of $3.71 and a 200 day moving average of $3.68. The company has a market cap of $725.52 million, a P/E ratio of -35.61 and a beta of 0.72.

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.