JOYY (NASDAQ:YY) Now Covered by StockNews.com

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

Separately, Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th.

JOYY Stock Down 1.3%

Shares of JOYY stock opened at $42.32 on Friday. JOYY has a 12-month low of $27.88 and a 12-month high of $55.31. The stock has a market cap of $2.28 billion, a P/E ratio of 12.79 and a beta of 0.21. The business’s 50 day moving average is $42.55 and its 200-day moving average is $41.48.

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 paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 8.79%. The ex-dividend date was Thursday, April 17th. This is a boost from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio is -120.00%.

Institutional Investors Weigh In On JOYY

A number of large investors have recently added to or reduced their stakes in YY. SBI Securities Co. Ltd. bought a new stake in JOYY in the 4th quarter valued at $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 raised 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 acquiring an additional 510 shares during the period. Raiffeisen Bank International AG bought a new stake in JOYY in the 4th quarter valued at $85,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in JOYY by 54.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider’s stock valued at $104,000 after acquiring 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.