JOYY Inc. (NASDAQ:YY) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its holdings in shares of JOYY Inc. (NASDAQ:YY) by 12.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 312,927 shares of the information services provider’s stock after selling 45,039 shares during the period. Point72 Asset Management L.P.’s holdings in JOYY were worth $13,096,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in YY. Charles Schwab Investment Management Inc. lifted its position in JOYY by 33.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 132,757 shares of the information services provider’s stock worth $5,556,000 after acquiring an additional 33,009 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of JOYY during the fourth quarter valued at approximately $501,000. Rhumbline Advisers raised its stake in shares of JOYY by 63.0% during the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 510 shares during the period. Ritholtz Wealth Management lifted its position in shares of JOYY by 69.1% during the fourth quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock worth $1,550,000 after purchasing an additional 15,127 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of JOYY by 56.5% in the fourth quarter. JPMorgan Chase & Co. now owns 121,109 shares of the information services provider’s stock valued at $5,068,000 after purchasing an additional 43,731 shares during the period. Institutional investors and hedge funds own 36.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on YY. Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. StockNews.com initiated coverage on JOYY in a research report on Monday. They set a “hold” rating on the stock.

JOYY Stock Down 1.0%

Shares of YY opened at $42.20 on Monday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 12.75 and a beta of 0.21. The business’s 50 day moving average is $41.89 and its two-hundred day moving average is $41.77. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a $0.93 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This is a boost from JOYY’s previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a yield of 8.82%. JOYY’s dividend payout ratio is currently -120.00%.

JOYY Profile

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.