Fox Run Management L.L.C. Lowers Position in JOYY Inc. (NASDAQ:YY)

Fox Run Management L.L.C. trimmed its stake in JOYY Inc. (NASDAQ:YY) by 28.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,809 shares of the information services provider’s stock after selling 6,989 shares during the quarter. Fox Run Management L.L.C.’s holdings in JOYY were worth $745,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Yunqi Capital Ltd lifted its position in JOYY by 102.3% during 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 lifted 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 valued at $20,507,000 after buying an additional 354,932 shares in the last quarter. Cape Ann Asset Management Ltd lifted its position in JOYY by 47.8% during the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock valued at $17,283,000 after buying an additional 154,200 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in JOYY during the third quarter valued at approximately $4,383,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in JOYY by 631.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,983 shares of the information services provider’s stock valued at $3,598,000 after buying an additional 74,232 shares in the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented 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 raised shares of JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

JOYY Trading Up 1.8 %

NASDAQ YY opened at $41.97 on Monday. The company’s fifty day simple moving average is $46.04 and its 200-day simple moving average is $40.08. 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 $2.26 billion, a P/E ratio of 12.68 and a beta of 0.21.

JOYY Increases Dividend

The business also recently declared 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 is Thursday, April 17th. This is a boost from JOYY’s previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a yield of 8.86%. JOYY’s dividend payout ratio is currently -120.00%.

JOYY 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.