Canada Pension Plan Investment Board Reduces Position in JOYY Inc. (NASDAQ:YY)

Canada Pension Plan Investment Board lowered its position in JOYY Inc. (NASDAQ:YY - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 427,100 shares of the information services provider's stock after selling 140,500 shares during the quarter. Canada Pension Plan Investment Board owned about 0.79% of JOYY worth $17,874,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Yunqi Capital Ltd boosted its position in JOYY by 102.3% in 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 during the period. AI Squared Management Ltd purchased a new position in JOYY during the 4th quarter worth $10,362,000. Krane Funds Advisors LLC increased its holdings in JOYY by 12.0% during the 4th 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. O Shaughnessy Asset Management LLC bought a new stake in JOYY during the 4th quarter valued at $4,958,000. Finally, Norges Bank purchased a new stake in shares of JOYY in the 4th quarter worth $3,859,000. Institutional investors own 36.83% of the company's stock.

JOYY Stock Performance

YY stock traded down $0.29 during trading on Friday, reaching $40.73. 493,608 shares of the company traded hands, compared to its average volume of 481,050. The business has a 50 day simple moving average of $43.93 and a 200 day simple moving average of $40.86. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 12.31 and a beta of 0.21.

JOYY Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be issued a $0.93 dividend. This is a boost from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 dividend on an annualized basis and a dividend yield of 9.13%. The ex-dividend date of this dividend is Thursday, April 17th. JOYY's dividend payout ratio (DPR) is currently -120.00%.

Analyst Upgrades and Downgrades

YY has been the subject of several recent research reports. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. StockNews.com started coverage on shares of JOYY in a research report on Friday. They issued a "hold" rating for the company.

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.