Polymer Capital Management HK LTD Takes $523,000 Position in JOYY Inc. (NASDAQ:YY)

Polymer Capital Management HK LTD acquired a new stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 12,500 shares of the information services provider's stock, valued at approximately $523,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in JOYY by 33.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 132,757 shares of the information services provider's stock worth $5,556,000 after buying an additional 33,009 shares during the last quarter. FMR LLC raised its position in shares of JOYY by 4.3% during the third quarter. FMR LLC now owns 678,551 shares of the information services provider's stock worth $24,591,000 after purchasing an additional 28,126 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of JOYY during the fourth quarter valued at $501,000. 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 worth $55,000 after purchasing an additional 510 shares in the last quarter. Finally, Ritholtz Wealth Management raised its holdings in JOYY by 69.1% during the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider's stock worth $1,550,000 after buying an additional 15,127 shares during the period. Institutional investors own 36.83% of the company's stock.

Wall Street Analysts Forecast Growth

YY has been the subject of a number of research reports. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. StockNews.com assumed coverage on shares of JOYY in a research report on Wednesday. They issued a "hold" rating for the company.

JOYY Stock Up 2.3 %

YY stock traded up $0.89 during mid-day trading on Friday, reaching $39.30. 541,828 shares of the stock traded hands, compared to its average volume of 475,192. The firm has a market capitalization of $2.12 billion, a PE ratio of 11.87 and a beta of 0.21. The business has a 50-day moving average of $45.16 and a two-hundred day moving average of $40.63. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $55.31.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be given a $0.93 dividend. This is a boost from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a yield of 9.47%. The ex-dividend date is Thursday, April 17th. JOYY's dividend payout ratio (DPR) is -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.