JOYY Inc. (NASDAQ:YY) Shares Purchased by MY.Alpha Management HK Advisors Ltd

MY.Alpha Management HK Advisors Ltd lifted its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 575,318 shares of the information services provider's stock after purchasing an additional 108,849 shares during the period. JOYY makes up about 10.7% of MY.Alpha Management HK Advisors Ltd's investment portfolio, making the stock its 2nd biggest position. MY.Alpha Management HK Advisors Ltd owned approximately 1.07% of JOYY worth $24,077,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Barclays PLC lifted its position in JOYY by 1.3% during the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider's stock valued at $744,000 after purchasing an additional 270 shares during the period. Global Retirement Partners LLC raised 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 last quarter. Rhumbline Advisers raised its stake in shares of 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 buying an additional 510 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in JOYY in the fourth quarter valued at approximately $25,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in JOYY by 54.8% in 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 buying an additional 883 shares during the period. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Trading Up 1.3%

JOYY stock opened at $42.86 on Wednesday. The firm has a market capitalization of $2.31 billion, a P/E ratio of 12.95 and a beta of 0.21. The business has a 50-day moving average of $42.26 and a 200-day moving average of $41.55. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a dividend of $0.93 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a yield of 8.68%. This is a boost from JOYY's previous quarterly dividend of $0.20. JOYY's payout ratio is currently -120.00%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on YY. Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. StockNews.com began coverage on JOYY in a research report on Sunday. They issued a "hold" rating on the stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.