JPMorgan Chase & Co. Purchases 43,731 Shares of JOYY Inc. (NASDAQ:YY)

JPMorgan Chase & Co. lifted its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 56.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,109 shares of the information services provider's stock after purchasing an additional 43,731 shares during the quarter. JPMorgan Chase & Co. owned 0.22% of JOYY worth $5,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in JOYY during the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC raised its position in JOYY by 71.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock worth $45,000 after purchasing an additional 447 shares in the last quarter. Rhumbline Advisers raised its position in JOYY by 63.0% in the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock worth $55,000 after purchasing an additional 510 shares in the last quarter. Aprio Wealth Management LLC acquired a new position in JOYY in the fourth quarter worth about $202,000. Finally, Blue Trust Inc. increased its holdings in shares of JOYY by 25.8% during the fourth quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider's stock worth $237,000 after buying an additional 1,162 shares in the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

YY has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of JOYY in a report on Thursday, April 17th. They set a "hold" rating for the company. Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

JOYY Trading Up 0.4 %

Shares of JOYY stock traded up $0.17 during midday trading on Thursday, reaching $40.68. The company had a trading volume of 543,092 shares, compared to its average volume of 478,617. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 12.29 and a beta of 0.21. The stock has a fifty day simple moving average of $44.23 and a 200 day simple moving average of $40.79. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $55.31.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be paid a $0.93 dividend. The ex-dividend date is Thursday, April 17th. This is a boost from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 dividend on an annualized basis and a yield of 9.14%. JOYY's dividend payout ratio (DPR) is presently -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.