JOYY Inc. (NASDAQ:YY) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd reduced its position in JOYY Inc. (NASDAQ:YY - Free Report) by 37.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,679 shares of the information services provider's stock after selling 6,888 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in JOYY were worth $489,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in YY. Loomis Sayles & Co. L P bought a new stake in JOYY during the 3rd quarter valued at $25,000. SBI Securities Co. Ltd. bought a new stake in JOYY during the fourth quarter valued at about $25,000. Global Retirement Partners LLC boosted its position 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 valued at $45,000 after purchasing an additional 447 shares in the last quarter. Rhumbline Advisers grew its stake in JOYY by 63.0% in 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 during the last quarter. Finally, Aprio Wealth Management LLC bought a new position in JOYY in the fourth quarter worth about $202,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

JOYY Trading Up 1.9 %

Shares of NASDAQ YY traded up $0.78 during midday trading on Wednesday, reaching $42.81. The company had a trading volume of 508,765 shares, compared to its average volume of 666,089. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31. The business's 50-day simple moving average is $46.14 and its 200 day simple moving average is $40.19. The stock has a market cap of $2.30 billion, a P/E ratio of 12.93 and a beta of 0.21.

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JOYY Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 8.69%. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from JOYY's previous quarterly dividend of $0.20. JOYY's payout ratio is presently -120.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on YY. StockNews.com downgraded shares of JOYY from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a research note 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.