Vise Technologies Inc. Buys New Shares in JOYY Inc. (NASDAQ:YY)

Vise Technologies Inc. acquired a new stake in JOYY Inc. (NASDAQ:YY - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,783 shares of the information services provider's stock, valued at approximately $284,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tiger Pacific Capital LP lifted its holdings in shares of JOYY by 23.1% during the 4th quarter. Tiger Pacific Capital LP now owns 680,676 shares of the information services provider's stock valued at $28,486,000 after buying an additional 127,829 shares during the period. Raiffeisen Bank International AG purchased a new stake in JOYY in the 4th quarter worth $85,000. MY.Alpha Management HK Advisors Ltd increased its stake in JOYY by 23.3% in the 4th quarter. MY.Alpha Management HK Advisors Ltd now owns 575,318 shares of the information services provider's stock worth $24,077,000 after buying an additional 108,849 shares in the last quarter. Man Group plc purchased a new position in shares of JOYY during the fourth quarter valued at about $3,751,000. Finally, Nuveen Asset Management LLC grew its position in shares of JOYY by 5.5% during the fourth quarter. Nuveen Asset Management LLC now owns 344,400 shares of the information services provider's stock valued at $14,413,000 after purchasing an additional 18,100 shares in the last quarter. 36.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on YY. Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Wall Street Zen began coverage on shares of JOYY in a research note on Monday, May 19th. They issued a "hold" rating for the company.

JOYY Stock Performance

NASDAQ YY traded down $1.14 during trading on Friday, hitting $47.88. The stock had a trading volume of 608,720 shares, compared to its average volume of 496,923. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 14.47 and a beta of 0.21. JOYY Inc. has a one year low of $27.88 and a one year high of $55.31. The stock has a 50 day simple moving average of $41.70 and a 200 day simple moving average of $42.49.

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 dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 7.77%. The ex-dividend date of this dividend was Thursday, April 17th. This is an increase from JOYY's previous quarterly dividend of $0.20. JOYY's payout ratio is currently -120.00%.

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.