Point72 Hong Kong Ltd Has $62.88 Million Holdings in JOYY Inc. (NASDAQ:YY)

Point72 Hong Kong Ltd lowered its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,502,473 shares of the information services provider's stock after selling 309,813 shares during the period. JOYY comprises 3.8% of Point72 Hong Kong Ltd's portfolio, making the stock its 4th largest holding. Point72 Hong Kong Ltd owned approximately 2.79% of JOYY worth $62,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of JOYY by 33.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 132,757 shares of the information services provider's stock valued at $5,556,000 after buying an additional 33,009 shares during the period. Sanctuary Advisors LLC bought a new stake in JOYY during the 4th quarter worth approximately $501,000. Rhumbline Advisers raised its holdings in JOYY by 63.0% during the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock worth $55,000 after acquiring an additional 510 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of JOYY by 69.1% in the fourth quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider's stock valued at $1,550,000 after buying an additional 15,127 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in JOYY by 56.5% during the 4th quarter. JPMorgan Chase & Co. now owns 121,109 shares of the information services provider's stock valued at $5,068,000 after purchasing an additional 43,731 shares during the last quarter. Institutional investors own 36.83% of the company's stock.

JOYY Stock Performance

Shares of NASDAQ:YY traded up $0.33 during midday trading on Tuesday, hitting $42.53. 180,961 shares of the stock were exchanged, compared to its average volume of 492,667. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 12.85 and a beta of 0.21. The business's 50-day moving average price is $41.76 and its 200 day moving average price is $41.84. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31.

JOYY Increases Dividend

The business also recently disclosed 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 positive change from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date was Thursday, April 17th. JOYY's payout ratio is currently -120.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on JOYY in a report on Monday. 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 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.