JOYY (NASDAQ:YY) Shares Gap Down - Time to Sell?

JOYY Inc. (NASDAQ:YY - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $46.88, but opened at $42.77. JOYY shares last traded at $42.84, with a volume of 1,215,068 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on YY shares. 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 report on Tuesday, February 25th.

JOYY Price Performance

The stock has a fifty day moving average price of $46.04 and a two-hundred day moving average price of $40.08. The company has a market cap of $2.28 billion, a P/E ratio of 12.79 and a beta of 0.21.

JOYY Increases Dividend

The company 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 $0.93 dividend. This is a positive change from JOYY's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $3.72 annualized dividend and a dividend yield of 8.79%. JOYY's dividend payout ratio is presently -120.00%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new stake in JOYY in the 3rd quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in shares of JOYY in the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC increased 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 valued at $45,000 after acquiring an additional 447 shares during the last quarter. Rhumbline Advisers lifted its holdings 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 acquiring an additional 510 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in JOYY in the fourth quarter worth $85,000. 36.83% of the stock is owned by institutional investors.

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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.