JOYY (NASDAQ:YY) Stock Price Down 5.9% - Should You Sell?

JOYY Inc. (NASDAQ:YY - Get Free Report) traded down 5.9% on Tuesday . The company traded as low as $46.26 and last traded at $46.17. 311,798 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 439,583 shares. The stock had previously closed at $49.09.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of JOYY from a "buy" rating to a "hold" rating in a research note 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 company has a market capitalization of $2.26 billion, a P/E ratio of 12.68 and a beta of 0.21. The stock's fifty day simple moving average is $46.04 and its 200-day simple moving average is $40.04.

JOYY Increases Dividend

The firm 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 is a boost from JOYY's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a yield of 8.86%. JOYY's dividend payout ratio (DPR) is currently 5.74%.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in JOYY during the fourth quarter worth about $25,000. Loomis Sayles & Co. L P bought a new position in JOYY during the third quarter worth about $25,000. Global Retirement Partners LLC increased its holdings 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 in the last quarter. Rhumbline Advisers increased its holdings in shares of 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 buying an additional 510 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of JOYY in the fourth quarter valued at approximately $85,000. Institutional investors own 36.83% of the company's stock.

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.