JOYY Inc. (NASDAQ:YY) Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of JOYY Inc. (NASDAQ:YY) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 825,299 shares of the information services provider’s stock after acquiring an additional 13,710 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.53% of JOYY worth $34,539,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Yunqi Capital Ltd lifted its holdings in shares of JOYY by 102.3% during the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock worth $71,605,000 after acquiring an additional 865,285 shares during the period. Whitefort Capital Management LP boosted its holdings in shares of JOYY by 168.3% in the 3rd quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock valued at $20,507,000 after purchasing an additional 354,932 shares during the last quarter. AI Squared Management Ltd acquired a new position in shares of JOYY in the 4th quarter valued at $10,362,000. Public Employees Retirement System of Ohio acquired a new stake in shares of JOYY during the 3rd quarter worth $4,383,000. Finally, Norges Bank acquired a new stake in shares of JOYY during the 4th quarter worth $3,859,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

YY has been the subject of a number of research reports. StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

JOYY Trading Up 0.3 %

Shares of JOYY stock opened at $42.12 on Thursday. The company has a fifty day moving average price of $46.08 and a 200 day moving average price of $40.43. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $55.31. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 12.73 and a beta of 0.21.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be given a $0.93 dividend. This is an increase from JOYY’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $3.72 annualized dividend and a dividend yield of 8.83%. JOYY’s dividend payout ratio is presently -120.00%.

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.