Wellington Management Group LLP Increases Stock Holdings in JOYY Inc. (NASDAQ:YY)

Wellington Management Group LLP grew its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 500.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,731 shares of the information services provider's stock after purchasing an additional 87,290 shares during the period. Wellington Management Group LLP owned approximately 0.19% of JOYY worth $4,383,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Barclays PLC increased its holdings in JOYY by 1.3% in the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider's stock valued at $744,000 after purchasing an additional 270 shares during the last quarter. Global Retirement Partners LLC boosted its position 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 period. Rhumbline Advisers grew its stake in shares of 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 buying an additional 510 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of JOYY in the 4th quarter valued at $25,000. Finally, Geode Capital Management LLC lifted its stake in JOYY by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider's stock worth $2,615,000 after acquiring an additional 877 shares in the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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 initiated coverage on JOYY in a report on Thursday. They set a "hold" rating on the stock.

JOYY Stock Up 3.5 %

JOYY stock traded up $1.42 during trading on Thursday, reaching $41.71. The stock had a trading volume of 364,332 shares, compared to its average volume of 475,758. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31. The stock has a market cap of $2.25 billion, a PE ratio of 12.60 and a beta of 0.21. The business has a 50 day moving average price of $44.85 and a 200 day moving average price of $40.66.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.93 per share. This is a boost from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a dividend yield of 8.92%. The ex-dividend date is Thursday, April 17th. JOYY's payout ratio is -120.00%.

JOYY 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.