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

StockNews.com initiated coverage on shares of JOYY (NASDAQ:YY) in a research note issued to investors on Sunday morning. The brokerage issued a hold rating on the information services provider’s stock.

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

JOYY Price Performance

Shares of NASDAQ YY opened at $42.86 on Friday. The stock has a market capitalization of $2.31 billion, a PE ratio of 12.95 and a beta of 0.21. JOYY has a one year low of $27.88 and a one year high of $55.31. The business’s fifty day moving average price is $42.26 and its 200-day moving average price is $41.55.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 8.68%. The ex-dividend date was Thursday, April 17th. This is a positive change from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio is -120.00%.

Hedge Funds Weigh In On JOYY

A number of institutional investors have recently made changes to their positions in the stock. Yunqi Capital Ltd raised its holdings in shares of JOYY by 102.3% during the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock valued at $71,605,000 after buying an additional 865,285 shares in the last quarter. Krane Funds Advisors LLC grew its stake in shares of JOYY by 4.0% during the first quarter. Krane Funds Advisors LLC now owns 1,559,646 shares of the information services provider’s stock valued at $65,474,000 after buying an additional 59,565 shares during the last quarter. OLP CAPITAL MANAGEMENT Ltd purchased a new position in shares of JOYY in the fourth quarter worth about $57,840,000. BRIGHT VALLEY CAPITAL Ltd increased its stake in JOYY by 249.2% in the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider’s stock worth $55,113,000 after purchasing an additional 936,841 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of JOYY by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider’s stock valued at $47,268,000 after purchasing an additional 13,560 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.