StockNews.com Begins Coverage on JOYY (NASDAQ:YY)

StockNews.com initiated coverage on shares of JOYY (NASDAQ:YY - Free Report) in a research report released on Friday. The brokerage issued a hold rating on the information services provider's stock.

Separately, Benchmark raised JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

JOYY Stock Performance

NASDAQ YY traded up $0.25 during trading hours on Friday, hitting $41.42. 305,112 shares of the company traded hands, compared to its average volume of 482,950. JOYY has a twelve month low of $27.88 and a twelve month high of $55.31. The business's 50-day moving average is $43.60 and its 200-day moving average is $40.98. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 12.51 and a beta of 0.21.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 8.98%. The ex-dividend date is Thursday, April 17th. This is a boost from JOYY's previous quarterly dividend of $0.20. JOYY's dividend payout ratio (DPR) is -120.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of YY. Moody Aldrich Partners LLC boosted its holdings in shares of JOYY by 52.0% in the first quarter. Moody Aldrich Partners LLC now owns 13,940 shares of the information services provider's stock worth $585,000 after acquiring an additional 4,769 shares during the period. Krane Funds Advisors LLC raised its holdings in JOYY by 4.0% during the 1st quarter. Krane Funds Advisors LLC now owns 1,559,646 shares of the information services provider's stock valued at $65,474,000 after buying an additional 59,565 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of JOYY by 34.1% during the 1st quarter. Vontobel Holding Ltd. now owns 7,835 shares of the information services provider's stock valued at $329,000 after purchasing an additional 1,992 shares in the last quarter. Wealthquest Corp purchased a new position in JOYY during the 1st quarter valued at about $16,137,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in shares of JOYY by 179.8% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 19,723 shares of the information services provider's stock worth $828,000 after acquiring an additional 12,673 shares during the last quarter. Institutional investors own 36.83% of the company's stock.

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.