JOYY Inc. (NASDAQ:YY) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 500.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,731 shares of the information services provider's stock after acquiring an additional 87,290 shares during the period. Wellington Management Group LLP owned about 0.19% of JOYY worth $4,383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in shares of JOYY in the fourth quarter worth $1,980,000. Public Employees Retirement System of Ohio boosted its stake in shares of JOYY by 3.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 125,487 shares of the information services provider's stock valued at $5,252,000 after acquiring an additional 4,542 shares during the last quarter. Vise Technologies Inc. purchased a new stake in JOYY during the 4th quarter worth about $284,000. Tiger Pacific Capital LP raised its stake in JOYY by 23.1% in 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 purchasing an additional 127,829 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in JOYY in the 4th quarter valued at about $85,000. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Performance

JOYY stock traded up $0.20 during trading on Friday, hitting $48.00. The company's stock had a trading volume of 484,223 shares, compared to its average volume of 499,760. The stock's fifty day moving average is $42.23 and its 200 day moving average is $42.88. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $55.31. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 14.50 and a beta of 0.21.

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 paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a yield of 7.75%. This is an increase from JOYY's previous quarterly dividend of $0.20. JOYY's dividend payout ratio (DPR) is currently -120.00%.

Wall Street Analyst Weigh In

Several research firms have issued reports on YY. Wall Street Zen initiated coverage on shares of JOYY in a research note on Monday, May 19th. They set a "hold" rating on the stock. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.

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.