Bank of America Corp DE Cuts Stock Position in JOYY Inc. (NASDAQ:YY)

Bank of America Corp DE trimmed its position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 54.6% during the 4th quarter, according to its most recent 13F filing with the SEC. 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 about 0.07% of JOYY worth $1,519,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in JOYY during the 4th quarter valued at about $15,448,000. Northern Trust Corp lifted its stake in JOYY by 66.0% during the 4th quarter. Northern Trust Corp now owns 94,126 shares of the information services provider's stock valued at $3,939,000 after acquiring an additional 37,435 shares during the period. Aquatic Capital Management LLC lifted its stake in JOYY by 533.7% during the 4th quarter. Aquatic Capital Management LLC now owns 29,783 shares of the information services provider's stock valued at $1,246,000 after acquiring an additional 25,083 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in JOYY during the 4th quarter valued at about $2,988,000. Finally, SIH Partners LLLP lifted its stake in JOYY by 27.2% during the 4th quarter. SIH Partners LLLP now owns 11,700 shares of the information services provider's stock valued at $490,000 after acquiring an additional 2,500 shares during the period. 36.83% of the stock is owned by hedge funds and other institutional investors.

JOYY Trading Up 0.4%

JOYY stock traded up $0.20 during midday trading on Friday, hitting $48.00. The stock had a trading volume of 484,223 shares, compared to its average volume of 499,760. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31. The firm's fifty day moving average is $42.23 and its two-hundred day moving average is $42.84. The company has a market capitalization of $2.58 billion, a PE ratio of 14.50 and a beta of 0.21.

JOYY Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were issued a dividend of $0.93 per share. This is a positive change from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date was Thursday, April 17th. JOYY's dividend payout ratio (DPR) is -120.00%.

Analyst Ratings Changes

YY has been the topic of several research analyst reports. Wall Street Zen initiated coverage on shares of JOYY in a research note on Monday, May 19th. They set a "hold" rating on the stock. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th.

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.