JOYY (NASDAQ:YY) Coverage Initiated at StockNews.com

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

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

JOYY Stock Performance

Shares of NASDAQ YY traded down $0.15 during midday trading on Friday, reaching $42.30. The stock had a trading volume of 208,661 shares, compared to its average volume of 491,498. The stock has a 50-day moving average of $42.13 and a 200-day moving average of $41.55. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.78 and a beta of 0.21. JOYY 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. Shareholders of record on Thursday, April 17th were issued a dividend of $0.93 per share. 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 yield of 8.79%. The ex-dividend date of this dividend was Thursday, April 17th. JOYY's dividend payout ratio (DPR) is -120.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of YY. SBI Securities Co. Ltd. purchased a new position in shares of JOYY in the fourth quarter valued at $25,000. Global Retirement Partners LLC grew 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 valued at $45,000 after purchasing an additional 447 shares in the last quarter. Rhumbline Advisers grew its holdings 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 purchasing an additional 510 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of JOYY in the first quarter valued at $57,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of JOYY in the fourth quarter valued at $85,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

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.