Canada Pension Plan Investment Board Trims Holdings in JOYY Inc. (NASDAQ:YY)

Canada Pension Plan Investment Board lessened its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 24.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,100 shares of the information services provider's stock after selling 140,500 shares during the period. Canada Pension Plan Investment Board owned approximately 0.79% of JOYY worth $17,874,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of JOYY during the fourth quarter worth $25,000. Global Retirement Partners LLC grew its stake in shares of JOYY by 71.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock worth $45,000 after buying an additional 447 shares during the last quarter. Rhumbline Advisers boosted 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 in the last quarter. Aprio Wealth Management LLC acquired a new position in JOYY in the 4th quarter valued at approximately $202,000. Finally, Blue Trust Inc. lifted its holdings in JOYY by 25.8% during the 4th quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider's stock worth $237,000 after buying an additional 1,162 shares during the period. Institutional investors own 36.83% of the company's stock.

JOYY Trading Up 3.1 %

Shares of YY traded up $1.23 during mid-day trading on Wednesday, reaching $40.51. The company's stock had a trading volume of 501,137 shares, compared to its average volume of 478,617. The stock has a market cap of $2.18 billion, a PE ratio of 12.24 and a beta of 0.21. The company's fifty day moving average price is $44.23 and its two-hundred day moving average price is $40.79. 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 announced 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 annualized dividend and a dividend yield of 9.18%. This is a boost from JOYY's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, April 17th. JOYY's dividend payout ratio (DPR) is currently -120.00%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com began coverage on JOYY in a report on Thursday, April 17th. They set a "hold" rating on the stock. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a 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.