JOYY Inc. (NASDAQ:YY) Shares Sold by Whitefort Capital Management LP

Whitefort Capital Management LP trimmed its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 25.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,427 shares of the information services provider's stock after selling 145,451 shares during the quarter. JOYY comprises 8.4% of Whitefort Capital Management LP's portfolio, making the stock its 6th largest holding. Whitefort Capital Management LP owned about 0.78% of JOYY worth $17,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in JOYY by 699.0% in the fourth quarter. SG Americas Securities LLC now owns 39,573 shares of the information services provider's stock worth $1,656,000 after purchasing an additional 34,620 shares during the period. Blue Trust Inc. lifted its position in JOYY by 25.8% in the fourth quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider's stock worth $237,000 after purchasing an additional 1,162 shares during the period. Caprock Group LLC acquired a new stake in JOYY in the fourth quarter worth approximately $385,000. Rhumbline Advisers lifted its position in JOYY by 63.0% in the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock worth $55,000 after purchasing an additional 510 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in JOYY in the fourth quarter worth approximately $501,000. 36.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on YY. Wall Street Zen began coverage on JOYY in a research report on Monday. They issued a "hold" rating for the company. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.

JOYY Price Performance

Shares of NASDAQ:YY traded down $0.24 on Thursday, reaching $43.15. 237,610 shares of the company traded hands, compared to its average volume of 496,350. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $55.31. The company's 50 day moving average is $41.59 and its 200-day moving average is $41.85. The stock has a market capitalization of $2.32 billion, a PE ratio of 13.04 and a beta of 0.21.

JOYY Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders 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 dividend yield of 8.62%. 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 -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.