D. E. Shaw & Co. Inc. Buys 288,285 Shares of JOYY Inc. (NASDAQ:YY)

D. E. Shaw & Co. Inc. boosted its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 1,793.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 304,355 shares of the information services provider's stock after buying an additional 288,285 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.57% of JOYY worth $12,737,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of JOYY by 33.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 132,757 shares of the information services provider's stock valued at $5,556,000 after buying an additional 33,009 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of JOYY in the 4th quarter worth about $501,000. Rhumbline Advisers boosted its stake in JOYY by 63.0% in the fourth 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. Ritholtz Wealth Management raised its holdings in shares of JOYY by 69.1% during the fourth quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider's stock valued at $1,550,000 after buying an additional 15,127 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in JOYY by 56.5% in the fourth quarter. JPMorgan Chase & Co. now owns 121,109 shares of the information services provider's stock worth $5,068,000 after purchasing an additional 43,731 shares during the period. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on YY shares. StockNews.com began coverage on shares of JOYY in a research note on Monday. They issued a "hold" rating on the stock. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th.

JOYY Stock Performance

Shares of JOYY stock traded down $0.43 on Monday, reaching $42.20. 143,253 shares of the stock were exchanged, compared to its average volume of 492,667. The firm has a market cap of $2.27 billion, a PE ratio of 12.75 and a beta of 0.21. JOYY Inc. has a one year low of $27.88 and a one year high of $55.31. The firm's 50 day moving average is $41.89 and its 200-day moving average is $41.77.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $3.72 annualized dividend and a yield of 8.82%. This is an increase from JOYY's previous quarterly dividend of $0.20. JOYY's dividend payout ratio is -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.