National Bank of Canada FI Purchases Shares of 61,000 JOYY Inc. (NASDAQ:YY)

National Bank of Canada FI purchased a new position in shares of JOYY Inc. (NASDAQ:YY) during the 4th quarter, Holdings Channel.com reports. The fund purchased 61,000 shares of the information services provider’s stock, valued at approximately $2,553,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of JOYY in the 4th quarter valued at about $25,000. Global Retirement Partners LLC increased its position in JOYY by 71.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock worth $45,000 after buying an additional 447 shares during the last quarter. Rhumbline Advisers raised its stake in 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 during the period. Aprio Wealth Management LLC acquired a new stake in shares of JOYY in the fourth quarter valued at approximately $202,000. Finally, Blue Trust Inc. boosted its stake in shares of JOYY by 25.8% during the 4th quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider’s stock worth $237,000 after acquiring an additional 1,162 shares during the period. Institutional investors own 36.83% of the company’s stock.

JOYY Trading Down 7.0 %

JOYY stock opened at $39.14 on Tuesday. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 11.82 and a beta of 0.21. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31. The stock’s 50 day moving average is $45.87 and its 200-day moving average is $40.58.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 9.50%. This is a positive change from JOYY’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, April 17th. JOYY’s dividend payout ratio is currently -120.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on YY shares. StockNews.com cut JOYY from a “buy” rating to a “hold” rating in a research note 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 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.