Jump Financial LLC Makes New Investment in JOYY Inc. (NASDAQ:YY)

Jump Financial LLC purchased a new stake in shares of JOYY Inc. (NASDAQ:YY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 24,041 shares of the information services provider’s stock, valued at approximately $1,006,000.

Other hedge funds have also modified their holdings of the company. Yunqi Capital Ltd increased its position in JOYY by 102.3% in the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock worth $71,605,000 after purchasing an additional 865,285 shares during the last quarter. AI Squared Management Ltd acquired a new stake in JOYY in the fourth quarter valued at approximately $10,362,000. Krane Funds Advisors LLC grew its position in JOYY by 12.0% in the fourth quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider’s stock worth $62,778,000 after acquiring an additional 160,545 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of JOYY during the 4th quarter worth $4,958,000. Finally, Norges Bank bought a new position in shares of JOYY during the 4th quarter valued at $3,859,000. 36.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

YY has been the topic of several analyst reports. Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. StockNews.com started coverage on JOYY in a report on Thursday. They issued a “hold” rating for the company.

JOYY Trading Down 0.3 %

NASDAQ:YY opened at $39.20 on Monday. The firm has a market capitalization of $2.11 billion, a PE ratio of 11.84 and a beta of 0.21. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31. The firm’s fifty day simple moving average is $44.62 and its 200 day simple moving average is $40.78.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 9.49%. The ex-dividend date is Thursday, April 17th. This is a boost from JOYY’s previous quarterly dividend of $0.20. JOYY’s payout ratio is currently -120.00%.

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.