Point72 Asset Management L.P. Has $13.10 Million Position in JOYY Inc. (NASDAQ:YY)

Point72 Asset Management L.P. trimmed its position in JOYY Inc. (NASDAQ:YY - Free Report) by 12.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 312,927 shares of the information services provider's stock after selling 45,039 shares during the period. Point72 Asset Management L.P. owned 0.58% of JOYY worth $13,096,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Ritholtz Wealth Management lifted 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 worth $1,550,000 after purchasing an additional 15,127 shares during the period. SG Americas Securities LLC raised its position in JOYY by 699.0% during the 4th 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 last quarter. Blue Trust Inc. lifted its holdings in JOYY by 25.8% during the 4th quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider's stock worth $237,000 after buying an additional 1,162 shares during the period. Caprock Group LLC bought a new stake in shares of JOYY in the 4th quarter valued at about $385,000. Finally, Rhumbline Advisers grew its position in shares of 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. Institutional investors and hedge funds own 36.83% of the company's stock.

Analysts Set New Price Targets

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

JOYY Stock Down 0.6%

YY traded down $0.24 during trading on Thursday, reaching $43.15. 237,610 shares of the stock traded hands, compared to its average volume of 494,907. The stock has a market capitalization of $2.32 billion, a PE ratio of 13.04 and a beta of 0.21. The stock's 50-day moving average is $41.59 and its 200 day moving average is $41.85. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.62%. This is an increase from JOYY's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, April 17th. JOYY's payout ratio is currently -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.