Prudential Financial Inc. Reduces Stock Holdings in JOYY Inc. (NASDAQ:YY)

Prudential Financial Inc. lowered its position in JOYY Inc. (NASDAQ:YY) by 26.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,600 shares of the information services provider’s stock after selling 16,708 shares during the quarter. Prudential Financial Inc.’s holdings in JOYY were worth $1,908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of JOYY during the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC increased its position in JOYY by 71.5% in 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 period. Rhumbline Advisers lifted 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 last quarter. Aprio Wealth Management LLC acquired a new position in shares of JOYY during the fourth quarter valued at $202,000. Finally, Blue Trust Inc. grew its position in shares of JOYY by 25.8% during the fourth 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 last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. StockNews.com lowered JOYY from a “buy” rating to a “hold” rating in a report on Thursday, March 6th.

JOYY Trading Down 0.5 %

NASDAQ YY opened at $42.09 on Friday. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31. The stock’s 50-day moving average price is $45.97 and its two-hundred day moving average price is $40.48. The company has a market cap of $2.27 billion, a PE ratio of 12.72 and a beta of 0.21.

JOYY Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from JOYY’s previous quarterly dividend of $0.20. This represents a $3.72 dividend on an annualized basis and a yield of 8.84%. JOYY’s payout ratio is presently -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.