JOYY Inc. (NASDAQ:YY) Stake Cut by Invesco Ltd.

Invesco Ltd. lowered its position in JOYY Inc. (NASDAQ:YY - Free Report) by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 143,740 shares of the information services provider's stock after selling 50,623 shares during the period. Invesco Ltd. owned about 0.27% of JOYY worth $6,016,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in JOYY by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider's stock valued at $2,615,000 after buying an additional 877 shares during the period. Barclays PLC grew its stake in JOYY by 1.3% during the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider's stock worth $744,000 after purchasing an additional 270 shares in the last quarter. Aprio Wealth Management LLC purchased a new stake in JOYY during the 4th quarter worth about $202,000. Ritholtz Wealth Management raised its position in JOYY by 69.1% in the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider's stock valued at $1,550,000 after purchasing an additional 15,127 shares in the last quarter. Finally, Retireful LLC purchased a new position in shares of JOYY in the 4th quarter valued at about $241,000. Institutional investors and hedge funds own 36.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com began coverage on shares of JOYY in a research report on Friday, April 25th. They set a "hold" rating for the company. Benchmark raised JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

JOYY Stock Performance

YY stock traded up $0.25 during trading on Thursday, hitting $41.42. The stock had a trading volume of 305,112 shares, compared to its average volume of 482,950. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $55.31. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 12.51 and a beta of 0.21. The company's 50 day moving average price is $43.45 and its two-hundred day moving average price is $40.98.

JOYY Increases Dividend

The company also recently disclosed 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 represents a $3.72 dividend on an annualized basis and a dividend yield of 8.98%. This is an increase from JOYY's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, April 17th. JOYY's dividend payout ratio is presently -120.00%.

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.