Two Sigma Investments LP Has $1.14 Million Position in JOYY Inc. (NASDAQ:YY)

Two Sigma Investments LP cut its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 41.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,167 shares of the information services provider's stock after selling 18,949 shares during the quarter. Two Sigma Investments LP owned approximately 0.05% of JOYY worth $1,137,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of YY. Caprock Group LLC purchased a new stake in shares of JOYY during the 4th quarter worth $385,000. Rhumbline Advisers grew 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 valued at $55,000 after acquiring an additional 510 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in JOYY during the 4th quarter worth approximately $501,000. Atria Wealth Solutions Inc. grew its holdings in JOYY by 8.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 12,500 shares of the information services provider's stock worth $523,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Global Retirement Partners LLC boosted 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 during the period. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Price Performance

JOYY stock traded up $0.20 during mid-day trading on Monday, hitting $48.00. The company's 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 company has a market cap of $2.58 billion, a PE ratio of 14.50 and a beta of 0.21. The firm's 50 day moving average is $42.23 and its 200 day moving average is $42.88.

JOYY Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on YY. Wall Street Zen initiated coverage on JOYY in a research report on Monday, May 19th. They issued a "hold" rating on the stock. Benchmark raised 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.