O Shaughnessy Asset Management LLC Takes $4.96 Million Position in JOYY Inc. (NASDAQ:YY)

O Shaughnessy Asset Management LLC purchased a new position in shares of JOYY Inc. (NASDAQ:YY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 118,463 shares of the information services provider’s stock, valued at approximately $4,958,000. O Shaughnessy Asset Management LLC owned approximately 0.22% of JOYY as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Yunqi Capital Ltd increased its position in shares of JOYY by 102.3% in the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock valued at $71,605,000 after buying an additional 865,285 shares in the last quarter. Whitefort Capital Management LP raised its position in JOYY by 168.3% during the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock worth $20,507,000 after acquiring an additional 354,932 shares during the period. AI Squared Management Ltd purchased a new position in JOYY during the fourth quarter valued at $10,362,000. Public Employees Retirement System of Ohio acquired a new stake in shares of JOYY in the third quarter valued at about $4,383,000. Finally, Norges Bank purchased a new stake in shares of JOYY during the fourth quarter worth about $3,859,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Stock Up 0.3 %

Shares of NASDAQ:YY opened at $42.12 on Thursday. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31. The stock has a market cap of $2.27 billion, a P/E ratio of 12.73 and a beta of 0.21. The business has a fifty day moving average of $46.08 and a two-hundred day moving average of $40.43.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.83%. This is a positive change from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio is currently -120.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Benchmark raised JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. StockNews.com cut shares of JOYY from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

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.