JOYY Inc. (NASDAQ:YY) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 344,400 shares of the information services provider's stock after acquiring an additional 18,100 shares during the quarter. Nuveen Asset Management LLC owned about 0.64% of JOYY worth $14,413,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. OLP CAPITAL MANAGEMENT Ltd purchased a new position in shares of JOYY during the 4th quarter valued at about $57,840,000. D. E. Shaw & Co. Inc. raised its stake in shares of JOYY by 1,793.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider's stock valued at $12,737,000 after buying an additional 288,285 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in JOYY in the fourth quarter valued at $2,653,000. BRIGHT VALLEY CAPITAL Ltd increased its holdings in JOYY by 46.5% in the fourth quarter. BRIGHT VALLEY CAPITAL Ltd now owns 376,000 shares of the information services provider's stock valued at $15,736,000 after buying an additional 119,369 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of JOYY in the fourth quarter worth about $285,000. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Stock Performance

Shares of JOYY stock traded up $2.55 on Wednesday, hitting $46.19. The company's stock had a trading volume of 615,191 shares, compared to its average volume of 498,682. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31. The firm has a fifty day moving average price of $41.38 and a 200-day moving average price of $42.17. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 13.95 and a beta of 0.21.

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. This represents a $3.72 annualized dividend and a yield of 8.05%. This is a boost from JOYY's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, April 17th. JOYY's payout ratio is presently -120.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen initiated coverage on shares of JOYY in a research report on Monday, May 19th. They issued a "hold" rating for the company. Benchmark upgraded 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.