JOYY Inc. (NASDAQ:YY) Stock Position Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 82.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,068 shares of the information services provider's stock after selling 572,261 shares during the period. Russell Investments Group Ltd. owned about 0.22% of JOYY worth $4,908,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Yunqi Capital Ltd lifted its stake in JOYY by 102.3% during the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider's stock worth $71,605,000 after purchasing an additional 865,285 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of JOYY by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider's stock valued at $47,268,000 after buying an additional 13,560 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of JOYY by 1.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 825,299 shares of the information services provider's stock valued at $34,539,000 after buying an additional 13,710 shares during the last quarter. AI Squared Management Ltd acquired a new stake in JOYY during the fourth quarter worth about $10,362,000. Finally, E Fund Management Co. Ltd. lifted its holdings in JOYY by 50.5% in the fourth quarter. E Fund Management Co. Ltd. now owns 156,688 shares of the information services provider's stock worth $6,557,000 after acquiring an additional 52,590 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors.

JOYY Price Performance

Shares of NASDAQ YY traded down $0.13 during midday trading on Friday, reaching $39.20. 534,496 shares of the company traded hands, compared to its average volume of 476,373. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 11.84 and a beta of 0.21. The stock has a 50-day moving average price of $44.62 and a 200 day moving average price of $40.71. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $55.31.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be paid a $0.93 dividend. 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 dividend yield of 9.49%. The ex-dividend date is Thursday, April 17th. JOYY's dividend payout ratio is currently -120.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on YY shares. StockNews.com initiated coverage on shares of JOYY in a report on Thursday. They issued a "hold" rating on the stock. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.

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.