Hsbc Holdings PLC Cuts Stock Holdings in JOYY Inc. (NASDAQ:YY)

Hsbc Holdings PLC trimmed its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 49.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,748 shares of the information services provider's stock after selling 15,678 shares during the period. Hsbc Holdings PLC's holdings in JOYY were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new position in shares of JOYY during the fourth quarter worth $25,000. Global Retirement Partners LLC lifted its stake in shares of JOYY by 71.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock worth $45,000 after buying an additional 447 shares during the period. Rhumbline Advisers increased its position in shares of 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 during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in JOYY by 54.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock worth $104,000 after acquiring an additional 883 shares during the last quarter. Finally, Aprio Wealth Management LLC acquired a new stake in JOYY during the 4th quarter worth about $202,000. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Price Performance

YY stock traded up $0.05 during trading on Friday, hitting $42.86. 312,878 shares of the company traded hands, compared to its average volume of 488,779. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31. The company has a market cap of $2.31 billion, a PE ratio of 12.95 and a beta of 0.21. The stock's 50-day simple moving average is $42.64 and its 200 day simple moving average is $41.31.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were paid a $0.93 dividend. 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 8.68%. The ex-dividend date of this dividend was Thursday, April 17th. JOYY's payout ratio is currently -120.00%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. StockNews.com began coverage on JOYY in a report on Saturday, May 3rd. They set a "hold" rating for the company. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th.

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.