BRIGHT VALLEY CAPITAL Ltd Raises Stock Position in JOYY Inc. (NASDAQ:YY)

BRIGHT VALLEY CAPITAL Ltd increased its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 46.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 376,000 shares of the information services provider's stock after purchasing an additional 119,369 shares during the quarter. JOYY accounts for 6.7% of BRIGHT VALLEY CAPITAL Ltd's portfolio, making the stock its 8th largest position. BRIGHT VALLEY CAPITAL Ltd owned about 0.70% of JOYY worth $15,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Yunqi Capital Ltd lifted its position 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 boosted its position in shares of JOYY by 12.0% in the fourth quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider's stock worth $62,778,000 after purchasing an additional 160,545 shares during the period. Vanguard Group Inc. increased its stake in shares of JOYY by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider's stock worth $47,268,000 after purchasing an additional 13,560 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of JOYY by 1.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 825,299 shares of the information services provider's stock valued at $34,539,000 after purchasing an additional 13,710 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of JOYY during the 4th quarter valued at $15,448,000. Institutional investors own 36.83% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on YY shares. StockNews.com initiated coverage on JOYY in a research report on Saturday, May 3rd. They set a "hold" rating for the company. Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th.

JOYY Stock Down 1.3 %

NASDAQ YY traded down $0.54 during trading on Friday, hitting $42.32. 195,851 shares of the stock traded hands, compared to its average volume of 489,549. The company has a market capitalization of $2.28 billion, a P/E ratio of 12.79 and a beta of 0.21. JOYY Inc. has a 12-month low of $27.88 and a 12-month high of $55.31. The firm has a 50-day simple moving average of $42.55 and a 200-day simple moving average of $41.37.

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

JOYY 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.