Prudential Financial Inc. Cuts Stock Position in JOYY Inc. (NASDAQ:YY)

Prudential Financial Inc. trimmed its position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 26.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,600 shares of the information services provider's stock after selling 16,708 shares during the quarter. Prudential Financial Inc. owned approximately 0.08% of JOYY worth $1,908,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC grew its position in shares of JOYY by 1.3% in the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider's stock valued at $744,000 after buying an additional 270 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of 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 acquiring an additional 447 shares during the period. Rhumbline Advisers boosted its holdings in JOYY by 63.0% in the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock valued at $55,000 after acquiring an additional 510 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in JOYY during the 4th quarter valued at approximately $25,000. Finally, Geode Capital Management LLC raised its holdings in JOYY by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider's stock worth $2,615,000 after purchasing an additional 877 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Performance

Shares of YY stock traded down $0.71 during trading hours on Wednesday, hitting $38.14. 1,051,931 shares of the company were exchanged, compared to its average volume of 476,137. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $55.31. The company has a 50 day simple moving average of $45.39 and a two-hundred day simple moving average of $40.60. The firm has a market cap of $2.05 billion, a P/E ratio of 11.52 and a beta of 0.21.

JOYY Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 9.75%. The ex-dividend date is Thursday, April 17th. This is a boost from JOYY's previous quarterly dividend of $0.20. JOYY's dividend payout ratio is -120.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on YY shares. StockNews.com assumed coverage on shares of JOYY in a research report on Wednesday. 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.

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.