Cubist Systematic Strategies LLC Takes Position in JOYY Inc. (NASDAQ:YY)

Cubist Systematic Strategies LLC purchased a new position in shares of JOYY Inc. (NASDAQ:YY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 63,386 shares of the information services provider's stock, valued at approximately $2,653,000. Cubist Systematic Strategies LLC owned about 0.12% of JOYY as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Yunqi Capital Ltd raised its stake in JOYY by 102.3% during the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider's stock worth $71,605,000 after acquiring an additional 865,285 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of JOYY in the fourth quarter valued at $15,448,000. AI Squared Management Ltd acquired a new stake in shares of JOYY in the fourth quarter valued at $10,362,000. Krane Funds Advisors LLC increased its stake 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 valued at $62,778,000 after buying an additional 160,545 shares in the last quarter. Finally, BRIGHT VALLEY CAPITAL Ltd increased its stake in shares of JOYY by 46.5% in the fourth quarter. BRIGHT VALLEY CAPITAL Ltd now owns 376,000 shares of the information services provider's stock valued at $15,736,000 after buying an additional 119,369 shares in the last quarter. 36.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com began coverage on JOYY in a research note on Sunday, May 11th. They issued a "hold" rating for the company. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

JOYY Stock Performance

JOYY stock traded up $0.33 during midday trading on Friday, reaching $42.63. The stock had a trading volume of 227,402 shares, compared to its average volume of 491,380. The firm's fifty day simple moving average is $42.01 and its 200-day simple moving average is $41.61. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $55.31. The stock has a market capitalization of $2.29 billion, a P/E ratio of 12.88 and a beta of 0.21.

JOYY Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders 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. This represents a $3.72 annualized dividend and a dividend yield of 8.73%. The ex-dividend date of this dividend was Thursday, April 17th. JOYY's payout ratio is currently -120.00%.

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.