JOYY (NASDAQ:YY) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of JOYY (NASDAQ:YY) in a report released on Monday. 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 note on Tuesday, February 25th.

JOYY Stock Performance

JOYY stock opened at $43.39 on Monday. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 13.11 and a beta of 0.21. JOYY has a 52-week low of $27.88 and a 52-week high of $55.31. The stock’s 50 day moving average price is $41.59 and its two-hundred day moving average price is $41.85.

JOYY Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 8.57%. The ex-dividend date of this dividend was Thursday, April 17th. This is a positive change from JOYY’s previous quarterly dividend of $0.20. JOYY’s payout ratio is -120.00%.

Hedge Funds Weigh In On JOYY

A number of hedge funds have recently added to or reduced their stakes in YY. SG Americas Securities LLC lifted its holdings in shares of JOYY by 699.0% in the fourth quarter. SG Americas Securities LLC now owns 39,573 shares of the information services provider’s stock valued at $1,656,000 after purchasing an additional 34,620 shares in the last quarter. Blue Trust Inc. boosted its holdings in JOYY by 25.8% during the fourth quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider’s stock worth $237,000 after purchasing an additional 1,162 shares during the last quarter. Caprock Group LLC bought a new stake in JOYY in the 4th quarter worth about $385,000. Rhumbline Advisers increased its stake in JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after buying an additional 510 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of JOYY during the 4th quarter worth approximately $501,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

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.