JOYY (NASDAQ:YY) Sees Unusually-High Trading Volume Following Dividend Announcement

Shares of JOYY Inc. (NASDAQ:YY) saw unusually-high trading volume on Friday following a dividend announcement from the company. Approximately 1,000,891 shares were traded during mid-day trading, an increase of 118% from the previous session’s volume of 460,152 shares.The stock last traded at $42.17 and had previously closed at $41.23.

The newly announced dividend which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.86%. The ex-dividend date is Thursday, April 17th. This is an increase from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio is -120.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on YY shares. StockNews.com cut shares of JOYY from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark upgraded shares of JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

JOYY Price Performance

The company’s 50-day moving average price is $46.04 and its two-hundred day moving average price is $40.04. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.68 and a beta of 0.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of YY. Loomis Sayles & Co. L P bought a new position in shares of JOYY in the third quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in shares of JOYY in the fourth quarter valued at $25,000. Global Retirement Partners LLC lifted its stake 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 buying an additional 447 shares in the last quarter. Rhumbline Advisers lifted its stake 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 buying an additional 510 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of JOYY in the fourth quarter valued at $85,000. 36.83% of the stock is 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.