JOYY Inc. (NASDAQ:YY) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 50.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 55,612 shares of the information services provider's stock after acquiring an additional 18,586 shares during the period. Ritholtz Wealth Management owned approximately 0.10% of JOYY worth $2,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in JOYY during the 4th quarter valued at approximately $25,000. Global Retirement Partners LLC raised its holdings in JOYY by 71.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock worth $45,000 after purchasing an additional 447 shares in the last quarter. Rhumbline Advisers lifted its position in JOYY by 63.0% during the fourth 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 period. Raiffeisen Bank International AG bought a new stake in shares of JOYY during the 4th quarter valued at $85,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of 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 worth $104,000 after acquiring an additional 883 shares in the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Price Performance

Shares of NASDAQ:YY traded up $0.75 during trading on Tuesday, hitting $49.77. The company had a trading volume of 229,037 shares, compared to its average volume of 503,487. JOYY Inc. has a one year low of $28.12 and a one year high of $55.31. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 15.04 and a beta of 0.21. The company has a fifty day simple moving average of $43.25 and a two-hundred day simple moving average of $43.41.

JOYY Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 7.47%. This is a positive change from JOYY's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, April 17th. JOYY's dividend payout ratio is presently -120.00%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on YY. Wall Street Zen assumed coverage on shares of JOYY in a report on Monday, May 19th. They issued a "hold" rating for the company. Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

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.