Northern Trust Corp Acquires 37,435 Shares of JOYY Inc. (NASDAQ:YY)

Northern Trust Corp lifted its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 66.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,126 shares of the information services provider's stock after purchasing an additional 37,435 shares during the quarter. Northern Trust Corp owned about 0.17% of JOYY worth $3,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of JOYY in the fourth quarter worth approximately $25,000. Global Retirement Partners LLC raised its holdings in JOYY by 71.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock worth $45,000 after acquiring an additional 447 shares during the last quarter. Rhumbline Advisers lifted its position in 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 acquiring an additional 510 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake 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 valued at $104,000 after purchasing an additional 883 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of JOYY by 25.8% in the 4th quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider's stock worth $237,000 after purchasing an additional 1,162 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Trading Up 5.8%

NASDAQ:YY traded up $2.55 during trading hours on Wednesday, reaching $46.19. The company had a trading volume of 615,191 shares, compared to its average volume of 499,372. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 13.95 and a beta of 0.21. The firm's 50 day moving average price is $41.46 and its 200-day moving average price is $42.20. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $55.31.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a $0.93 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $3.72 annualized dividend and a dividend yield of 8.05%. This is a positive change from JOYY's previous quarterly dividend of $0.20. JOYY's payout ratio is presently -120.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Benchmark raised JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. Wall Street Zen assumed coverage on shares of JOYY in a report on Monday, May 19th. They set a "hold" rating on the stock.

JOYY 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.