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

Wellington Management Group LLP boosted its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 500.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,731 shares of the information services provider's stock after purchasing an additional 87,290 shares during the quarter. Wellington Management Group LLP owned about 0.19% of JOYY worth $4,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OLP CAPITAL MANAGEMENT Ltd bought a new stake in shares of JOYY during the 4th quarter worth approximately $57,840,000. Yunqi Capital Ltd lifted its position in shares of JOYY by 102.3% during the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider's stock worth $71,605,000 after purchasing an additional 865,285 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of JOYY during the fourth quarter worth $15,448,000. D. E. Shaw & Co. Inc. boosted its position in JOYY by 1,793.9% in 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 period. Finally, AI Squared Management Ltd bought a new stake in JOYY during the 4th quarter valued at $10,362,000. Institutional investors own 36.83% of the company's stock.

Analysts Set New Price Targets

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

JOYY Price Performance

NASDAQ:YY traded up $0.58 during mid-day trading on Friday, hitting $47.80. The company's stock had a trading volume of 397,767 shares, compared to its average volume of 498,120. The business's fifty day moving average is $42.11 and its two-hundred day moving average is $42.71. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 14.44 and a beta of 0.21. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.93 per share. This is a boost from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a dividend yield of 7.78%. The ex-dividend date was Thursday, April 17th. JOYY's payout ratio is currently -120.00%.

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.