Point72 Asia Singapore Pte. Ltd. Lowers Stock Holdings in JOYY Inc. (NASDAQ:YY)

Point72 Asia Singapore Pte. Ltd. cut its holdings in shares of JOYY Inc. (NASDAQ:YY) by 37.2% during the fourth quarter, Holdings Channel reports. The firm owned 8,000 shares of the information services provider’s stock after selling 4,734 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in JOYY were worth $335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. MY.Alpha Management HK Advisors Ltd boosted its holdings in JOYY by 23.3% in the fourth quarter. MY.Alpha Management HK Advisors Ltd now owns 575,318 shares of the information services provider’s stock valued at $24,077,000 after purchasing an additional 108,849 shares during the period. Man Group plc purchased a new position in shares of JOYY in the 4th quarter valued at about $3,751,000. Nuveen Asset Management LLC grew its position in shares of JOYY by 5.5% during the fourth quarter. Nuveen Asset Management LLC now owns 344,400 shares of the information services provider’s stock worth $14,413,000 after buying an additional 18,100 shares in the last quarter. OLP CAPITAL MANAGEMENT Ltd purchased a new stake in shares of JOYY during the fourth quarter worth approximately $57,840,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in JOYY by 1,793.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider’s stock valued at $12,737,000 after acquiring an additional 288,285 shares in the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Stock Performance

NASDAQ:YY opened at $42.30 on Friday. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31. The stock has a market cap of $2.28 billion, a P/E ratio of 12.78 and a beta of 0.21. The stock has a 50-day simple moving average of $42.01 and a 200-day simple moving average of $41.61.

JOYY Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 8.79%. This is an increase from JOYY’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, April 17th. JOYY’s dividend payout ratio is -120.00%.

Wall Street Analysts Forecast Growth

YY has been the subject of several analyst reports. Benchmark upgraded shares of JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. StockNews.com initiated coverage on shares of JOYY in a research report on Sunday, May 11th. They set a “hold” rating for the company.

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.