JOYY (NASDAQ:YY) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of JOYY (NASDAQ:YY - Free Report) in a report released on Friday. The brokerage issued a hold rating on the information services provider's stock.

Separately, Benchmark raised JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.

JOYY Price Performance

YY stock traded down $0.29 during midday trading on Friday, hitting $40.73. The company's stock had a trading volume of 493,608 shares, compared to its average volume of 481,736. The company's fifty day moving average price is $43.93 and its 200 day moving average price is $40.95. JOYY has a twelve month low of $27.88 and a twelve month high of $55.31. The stock has a market capitalization of $2.19 billion, a P/E ratio of 12.31 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. Investors of record on Thursday, April 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 9.13%. This is an increase from JOYY's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, April 17th. JOYY's payout ratio is presently -120.00%.

Hedge Funds Weigh In On JOYY

A number of hedge funds and other institutional investors have recently bought and sold shares of YY. SBI Securities Co. Ltd. acquired a new stake in shares of JOYY in the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC raised its stake in JOYY by 71.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock valued at $45,000 after acquiring an additional 447 shares during the period. Rhumbline Advisers boosted its position in JOYY by 63.0% during the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock worth $55,000 after purchasing an additional 510 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of JOYY in the fourth quarter valued at $85,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of JOYY by 54.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock valued at $104,000 after purchasing an additional 883 shares during the period. Institutional investors own 36.83% of the company's stock.

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.