Millennium Management LLC Lowers Stock Holdings in JOYY Inc. (NASDAQ:YY)

Millennium Management LLC cut its position in JOYY Inc. (NASDAQ:YY - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of 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 in the last quarter. Caprock Group LLC purchased a new position in shares of JOYY during the 4th quarter worth approximately $385,000. Rhumbline Advisers raised its stake in shares of JOYY by 63.0% during the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock worth $55,000 after buying an additional 510 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of JOYY during the 4th quarter worth approximately $501,000. Finally, Atria Wealth Solutions Inc. raised its stake in shares of 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 buying an additional 1,000 shares in the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

JOYY Price Performance

JOYY stock traded up $0.19 during mid-day trading on Thursday, hitting $47.22. 291,237 shares of the company were exchanged, compared to its average volume of 498,120. The business's 50 day simple moving average is $42.01 and its two-hundred day simple moving average is $42.63. The company has a market capitalization of $2.54 billion, a P/E ratio of 14.27 and a beta of 0.21. JOYY Inc. has a 12-month low of $27.88 and a 12-month high of $55.31.

JOYY Increases Dividend

The business 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 is an increase from JOYY's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, April 17th. This represents a $3.72 annualized dividend and a yield of 7.88%. JOYY's dividend payout ratio (DPR) is presently -120.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen assumed coverage on JOYY in a research note on Monday, May 19th. They set a "hold" rating for the company. Benchmark raised JOYY from a "hold" rating to a "buy" rating in a research note 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.