Bank of America Corp DE Has $1.52 Million Stake in JOYY Inc. (NASDAQ:YY)

Bank of America Corp DE lowered its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 54.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,305 shares of the information services provider's stock after selling 43,713 shares during the quarter. Bank of America Corp DE owned approximately 0.07% of JOYY worth $1,519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in YY. Global Retirement Partners LLC raised its holdings 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 buying an additional 447 shares during the last quarter. Rhumbline Advisers raised its holdings 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 buying an additional 510 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in JOYY in the 4th quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings 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 buying an additional 883 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in JOYY by 8.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 12,500 shares of the information services provider's stock valued at $523,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 36.83% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on YY. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Wall Street Zen began coverage on shares of JOYY in a report on Monday, May 19th. They issued a "hold" rating for the company.

JOYY Trading Up 0.4%

NASDAQ:YY traded up $0.20 on Friday, reaching $48.00. 484,223 shares of the stock traded hands, compared to its average volume of 499,760. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 14.50 and a beta of 0.21. The company's 50 day moving average is $42.23 and its 200-day moving average is $42.79. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $55.31.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date was Thursday, April 17th. This is an increase from JOYY's previous quarterly dividend of $0.20. JOYY's dividend payout ratio is currently -120.00%.

JOYY Company 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.