National Bank of Canada FI Purchases Shares of 61,000 JOYY Inc. (NASDAQ:YY)

National Bank of Canada FI bought a new stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 61,000 shares of the information services provider's stock, valued at approximately $2,553,000. National Bank of Canada FI owned 0.11% of JOYY as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of YY. Charles Schwab Investment Management Inc. boosted its position in shares of JOYY by 33.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 132,757 shares of the information services provider's stock worth $5,556,000 after acquiring an additional 33,009 shares in the last quarter. FMR LLC lifted its stake in JOYY by 4.3% during the third quarter. FMR LLC now owns 678,551 shares of the information services provider's stock worth $24,591,000 after purchasing an additional 28,126 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of JOYY in the 4th quarter valued at $501,000. Rhumbline Advisers increased its stake in shares of JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock valued at $55,000 after purchasing an additional 510 shares during the last quarter. Finally, Ritholtz Wealth Management raised its holdings in shares of JOYY by 69.1% during the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider's stock worth $1,550,000 after buying an additional 15,127 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors.

JOYY Stock Performance

Shares of YY traded up $0.89 during trading hours on Friday, reaching $39.30. The stock had a trading volume of 541,828 shares, compared to its average volume of 475,192. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31. The stock has a market capitalization of $2.12 billion, a PE ratio of 11.87 and a beta of 0.21. The company's 50-day moving average is $45.16 and its two-hundred day moving average is $40.63.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be given a $0.93 dividend. The ex-dividend date is Thursday, April 17th. This is an increase from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a yield of 9.47%. JOYY's dividend payout ratio (DPR) is currently -120.00%.

Wall Street Analysts Forecast Growth

YY has been the topic of several research analyst reports. StockNews.com assumed coverage on JOYY in a research note on Wednesday. They issued a "hold" rating on the stock. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th.

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.