JOYY Inc. (NASDAQ:YY) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 631.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 85,983 shares of the information services provider's stock after acquiring an additional 74,232 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of JOYY worth $3,598,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P acquired a new position in JOYY in the third quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in JOYY during the fourth quarter worth $25,000. Global Retirement Partners LLC lifted its stake in 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 purchasing an additional 447 shares in the last quarter. Rhumbline Advisers lifted its stake in JOYY by 63.0% during the fourth 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, Aprio Wealth Management LLC acquired a new position in JOYY during the fourth quarter worth $202,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on YY. Benchmark raised JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. StockNews.com lowered JOYY from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th.

Remove Ads

JOYY Trading Up 1.8 %

NASDAQ:YY traded up $0.74 during trading hours on Friday, hitting $41.97. The company's stock had a trading volume of 1,736,058 shares, compared to its average volume of 462,908. The stock has a market capitalization of $2.26 billion, a P/E ratio of 12.68 and a beta of 0.21. The stock has a fifty day moving average of $45.97 and a 200-day moving average of $39.95. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31.

JOYY Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be paid a dividend of $0.93 per share. This is an increase from JOYY's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, April 17th. This represents a $3.72 annualized dividend and a dividend yield of 8.86%. JOYY's dividend payout ratio is 5.74%.

JOYY Company 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.