Franklin Resources Inc. purchased a new stake in JOYY Inc. (NASDAQ:YY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,645 shares of the information services provider's stock, valued at approximately $445,000.
Other institutional investors have also added to or reduced their stakes in the company. Yunqi Capital Ltd grew its holdings in shares of JOYY by 102.3% during the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider's stock valued at $71,605,000 after purchasing an additional 865,285 shares during the last quarter. Vanguard Group Inc. grew its holdings in JOYY by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider's stock worth $47,268,000 after acquiring an additional 13,560 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in JOYY by 1.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 825,299 shares of the information services provider's stock worth $34,539,000 after acquiring an additional 13,710 shares during the last quarter. AI Squared Management Ltd bought a new stake in JOYY during the 4th quarter worth approximately $10,362,000. Finally, E Fund Management Co. Ltd. grew its holdings in JOYY by 50.5% during the 4th quarter. E Fund Management Co. Ltd. now owns 156,688 shares of the information services provider's stock worth $6,557,000 after acquiring an additional 52,590 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
YY has been the topic of a number of research reports. Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. StockNews.com assumed coverage on shares of JOYY in a research report on Thursday, April 17th. They issued a "hold" rating on the stock.
Get Our Latest Analysis on YY
JOYY Stock Performance
Shares of JOYY stock traded up $0.08 during trading hours on Wednesday, reaching $39.28. The company's stock had a trading volume of 352,372 shares, compared to its average volume of 478,007. The stock's fifty day simple moving average is $44.36 and its two-hundred day simple moving average is $40.79. The company has a market capitalization of $2.11 billion, a P/E ratio of 11.87 and a beta of 0.21. JOYY Inc. has a one year low of $27.88 and a one year high of $55.31.
JOYY Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 9.47%. The ex-dividend date of this dividend is Thursday, April 17th. This is a boost from JOYY's previous quarterly dividend of $0.20. JOYY's payout ratio is -120.00%.
JOYY Company Profile
(
Free Report)
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.
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