Jump Financial LLC Takes $1.01 Million Position in JOYY Inc. (NASDAQ:YY)

Jump Financial LLC purchased a new position in JOYY Inc. (NASDAQ:YY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,041 shares of the information services provider's stock, valued at approximately $1,006,000.

A number of other hedge funds also recently bought and sold shares of YY. XTX Topco Ltd purchased a new stake in shares of JOYY during the fourth quarter worth approximately $683,000. Barclays PLC increased its holdings in shares of JOYY by 147.1% in the fourth quarter. Barclays PLC now owns 50,771 shares of the information services provider's stock valued at $2,124,000 after purchasing an additional 30,228 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new position in JOYY during the fourth quarter worth approximately $1,205,000. Krane Funds Advisors LLC boosted its stake in JOYY by 12.0% during the fourth quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider's stock worth $62,778,000 after buying an additional 160,545 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in JOYY by 4.9% in the 4th quarter. Legal & General Group Plc now owns 97,917 shares of the information services provider's stock valued at $4,098,000 after buying an additional 4,609 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com initiated coverage on shares of JOYY in a report on Thursday, April 17th. They set a "hold" rating for the company. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

JOYY Trading Up 3.1 %

Shares of NASDAQ YY traded up $1.23 during mid-day trading on Wednesday, reaching $40.51. The company had a trading volume of 501,137 shares, compared to its average volume of 478,617. The firm has a 50 day simple moving average of $44.23 and a two-hundred day simple moving average of $40.79. 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 $2.18 billion, a P/E ratio of 12.24 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 issued a $0.93 dividend. This is an increase from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a dividend yield of 9.18%. The ex-dividend date is Thursday, April 17th. JOYY's payout ratio is presently -120.00%.

About JOYY

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.