Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 25.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,398 shares of the information services provider's stock after selling 10,902 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of JOYY worth $1,314,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Yunqi Capital Ltd lifted its stake in shares of JOYY by 102.3% in 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 period. Whitefort Capital Management LP lifted its position in JOYY by 168.3% during the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider's stock valued at $20,507,000 after buying an additional 354,932 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of JOYY during the 3rd quarter valued at $4,383,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of JOYY by 631.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,983 shares of the information services provider's stock worth $3,598,000 after buying an additional 74,232 shares during the period. Finally, E Fund Management Co. Ltd. increased its stake in shares of JOYY by 50.5% in 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 in the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.
JOYY Trading Down 7.0 %
YY stock traded down $2.95 during midday trading on Friday, hitting $39.14. The company's stock had a trading volume of 959,311 shares, compared to its average volume of 477,402. The firm's 50-day moving average is $45.97 and its 200-day moving average is $40.56. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31. The company has a market cap of $2.11 billion, a PE ratio of 11.82 and a beta of 0.21.
JOYY Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 9.50%. The ex-dividend date is Thursday, April 17th. This is a boost from JOYY's previous quarterly dividend of $0.20. JOYY's dividend payout ratio is -120.00%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on YY shares. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. StockNews.com cut JOYY from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th.
Check Out Our Latest Research Report on JOYY
About JOYY
(
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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