Millennium Management LLC Decreases Stake in JOYY Inc. (NASDAQ:YY)

Millennium Management LLC reduced its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 14.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,110 shares of the information services provider's stock after selling 9,350 shares during the quarter. Millennium Management LLC owned approximately 0.10% of JOYY worth $2,265,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in YY. SBI Securities Co. Ltd. bought a new stake in JOYY during the 4th quarter valued at $25,000. Global Retirement Partners LLC raised its holdings in shares of JOYY by 71.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock valued at $45,000 after acquiring an additional 447 shares in the last quarter. Rhumbline Advisers lifted its stake 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 acquiring an additional 510 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its holdings in JOYY by 54.8% during 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. Finally, Blue Trust Inc. grew 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 acquiring an additional 1,162 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

YY has been the subject of several research reports. Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Wall Street Zen assumed coverage on JOYY in a report on Monday, May 19th. They set a "hold" rating for the company.

JOYY Stock Performance

YY traded down $0.20 on Tuesday, hitting $47.68. The company had a trading volume of 161,019 shares, compared to its average volume of 496,923. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 14.40 and a beta of 0.21. The stock has a fifty day moving average price of $41.80 and a 200-day moving average price of $42.57. 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 issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 7.80%. The ex-dividend date was Thursday, April 17th. This is a positive change from JOYY's previous quarterly dividend of $0.20. JOYY's dividend 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.