JOYY (NASDAQ:YY) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of JOYY (NASDAQ:YY) in a report published on Sunday. The brokerage issued a hold rating on the information services provider’s stock.

Separately, Benchmark upgraded shares of JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

JOYY Price Performance

Shares of NASDAQ YY opened at $42.86 on Friday. The business has a fifty day moving average price of $42.26 and a two-hundred day moving average price of $41.55. The stock has a market capitalization of $2.31 billion, a PE ratio of 12.95 and a beta of 0.21. JOYY has a fifty-two week low of $27.88 and a fifty-two week high of $55.31.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 8.68%. The ex-dividend date was Thursday, April 17th. This is a boost from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio is presently -120.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in JOYY by 1.3% during the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider’s stock worth $744,000 after acquiring an additional 270 shares during the last quarter. Global Retirement Partners LLC grew its position in JOYY by 71.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock worth $45,000 after purchasing an additional 447 shares in the last quarter. Rhumbline Advisers increased its stake in JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after buying an additional 510 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of JOYY during the 4th quarter worth approximately $25,000. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of JOYY by 7.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,383 shares of the information services provider’s stock worth $436,000 after buying an additional 727 shares during the last quarter. 36.83% of the stock is owned by institutional investors and hedge funds.

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.