JOYY Inc. (NASDAQ:YY) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,597 shares of the information services provider's stock after selling 48,663 shares during the period. Jane Street Group LLC owned approximately 0.14% of JOYY worth $3,164,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in YY. Barclays PLC raised its position in shares of 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 during the last quarter. Global Retirement Partners LLC raised its holdings in shares of JOYY by 71.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock worth $45,000 after acquiring an additional 447 shares during the last quarter. Rhumbline Advisers lifted its position in shares of JOYY by 63.0% in the fourth 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of JOYY during the fourth quarter valued at $25,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of JOYY by 54.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock valued at $104,000 after acquiring an additional 883 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on YY shares. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. StockNews.com initiated coverage on shares of JOYY in a research note on Sunday, May 11th. They set a "hold" rating on the stock.

JOYY Stock Performance

NASDAQ YY traded down $0.43 during mid-day trading on Friday, reaching $42.20. 143,253 shares of the stock were exchanged, compared to its average volume of 491,760. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $55.31. The business's fifty day simple moving average is $41.89 and its 200 day simple moving average is $41.67. The stock has a market capitalization of $2.27 billion, a PE ratio of 12.75 and a beta of 0.21.

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 given a dividend of $0.93 per share. The ex-dividend date was Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a yield of 8.82%. This is a positive change from JOYY's previous quarterly dividend of $0.20. JOYY's dividend payout ratio (DPR) is -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.