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

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

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

JOYY Price Performance

YY stock traded down $0.54 during trading on Friday, reaching $42.32. The company had a trading volume of 195,851 shares, compared to its average volume of 490,298. The business has a 50 day moving average of $42.55 and a 200 day moving average of $41.48. The company has a market cap of $2.28 billion, a P/E ratio of 12.79 and a beta of 0.21. JOYY has a 52 week low of $27.88 and a 52 week high of $55.31.

JOYY Increases Dividend

The company also recently declared 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 boost from JOYY's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a yield of 8.79%. JOYY's payout ratio is presently -120.00%.

Institutional Trading of JOYY

A number of institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of JOYY during the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC boosted its stake in JOYY by 71.5% during the 4th 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 during the last quarter. Rhumbline Advisers increased its holdings in shares of JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock worth $55,000 after purchasing an additional 510 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of JOYY in the fourth quarter worth $85,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of 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 worth $104,000 after purchasing an additional 883 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors.

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.