Norges Bank Invests $3.86 Million in JOYY Inc. (NASDAQ:YY)

Norges Bank bought a new stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 92,209 shares of the information services provider's stock, valued at approximately $3,859,000. Norges Bank owned about 0.17% of JOYY at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in JOYY by 45.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider's stock valued at $3,615,000 after purchasing an additional 31,341 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in JOYY by 35.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,436 shares of the information services provider's stock worth $1,103,000 after buying an additional 8,019 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in JOYY in the 3rd quarter worth $4,383,000. Geode Capital Management LLC lifted its position in shares of JOYY by 1.2% in the third quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider's stock valued at $2,615,000 after acquiring an additional 877 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of JOYY by 1.3% in the third quarter. Barclays PLC now owns 20,543 shares of the information services provider's stock worth $744,000 after acquiring an additional 270 shares during the period. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Trading Up 3.5 %

YY traded up $1.42 during trading hours on Wednesday, hitting $41.71. The company's stock had a trading volume of 364,332 shares, compared to its average volume of 475,282. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31. The business's 50-day moving average price is $44.94 and its 200-day moving average price is $40.66. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 12.60 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. Shareholders of record on Thursday, April 17th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 dividend on an annualized basis and a yield of 8.92%. JOYY's payout ratio is -120.00%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on YY shares. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th. StockNews.com assumed coverage on shares of JOYY in a research note on Wednesday, April 9th. They issued a "hold" rating on the 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.