JOYY Inc. (NASDAQ:YY) Shares Acquired by BRIGHT VALLEY CAPITAL Ltd

BRIGHT VALLEY CAPITAL Ltd increased its holdings in shares of JOYY Inc. (NASDAQ:YY) by 46.5% in the fourth quarter, HoldingsChannel reports. The firm owned 376,000 shares of the information services provider’s stock after buying an additional 119,369 shares during the period. JOYY makes up 6.7% of BRIGHT VALLEY CAPITAL Ltd’s portfolio, making the stock its 8th largest position. BRIGHT VALLEY CAPITAL Ltd’s holdings in JOYY were worth $15,736,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of YY. Geode Capital Management LLC increased its holdings in shares of JOYY by 1.2% in the third quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider’s stock valued at $2,615,000 after purchasing an additional 877 shares during the last quarter. Barclays PLC grew its stake in JOYY by 1.3% in the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider’s stock valued at $744,000 after buying an additional 270 shares during the last quarter. Aprio Wealth Management LLC bought a new position in JOYY in the 4th quarter valued at about $202,000. Ritholtz Wealth Management lifted its position in 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 acquiring an additional 15,127 shares during the last quarter. Finally, Retireful LLC bought a new stake in shares of JOYY during the fourth quarter worth approximately $241,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on YY. Benchmark raised JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. StockNews.com began coverage on JOYY in a research report on Saturday. They set a “hold” rating on the stock.

JOYY Stock Up 3.4 %

Shares of NASDAQ:YY opened at $42.25 on Tuesday. JOYY Inc. has a 12-month low of $27.88 and a 12-month high of $55.31. The company’s 50 day moving average price is $42.91 and its two-hundred day moving average price is $41.24. The firm has a market cap of $2.27 billion, a PE ratio of 12.76 and a beta of 0.21.

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 given a dividend of $0.93 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a yield of 8.81%. This is an increase from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio is currently -120.00%.

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.