National Bank of Canada FI Invests $2.55 Million in JOYY Inc. (NASDAQ:YY)

National Bank of Canada FI purchased a new stake in JOYY Inc. (NASDAQ:YY) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 61,000 shares of the information services provider’s stock, valued at approximately $2,553,000. National Bank of Canada FI owned 0.11% of JOYY at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in JOYY by 45.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock worth $3,615,000 after acquiring an additional 31,341 shares in the last quarter. FMR LLC lifted its holdings in shares of JOYY by 4.3% during the 3rd quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock valued at $24,591,000 after purchasing an additional 28,126 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of JOYY by 35.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,436 shares of the information services provider’s stock valued at $1,103,000 after purchasing an additional 8,019 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of JOYY in the 3rd quarter valued at approximately $4,383,000. Finally, Geode Capital Management LLC increased its stake in JOYY by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider’s stock worth $2,615,000 after purchasing an additional 877 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Stock Performance

Shares of JOYY stock opened at $39.14 on Tuesday. The firm has a market cap of $2.11 billion, a PE ratio of 11.82 and a beta of 0.21. The business’s 50 day simple moving average is $45.87 and its 200 day simple moving average is $40.58. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 9.50%. The ex-dividend date is Thursday, April 17th. This is a positive change from JOYY’s previous quarterly dividend of $0.20. JOYY’s payout ratio is currently -120.00%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of JOYY from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.