Norges Bank Makes New $3.86 Million Investment in JOYY Inc. (NASDAQ:YY)

Norges Bank acquired a new stake in shares of JOYY Inc. (NASDAQ:YY) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 92,209 shares of the information services provider’s stock, valued at approximately $3,859,000. Norges Bank owned about 0.17% of JOYY as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in YY. JPMorgan Chase & Co. boosted its stake in JOYY by 56.5% during the fourth quarter. JPMorgan Chase & Co. now owns 121,109 shares of the information services provider’s stock worth $5,068,000 after buying an additional 43,731 shares in the last quarter. AI Squared Management Ltd acquired a new stake in shares of JOYY during the 4th quarter valued at about $10,362,000. Vanguard Group Inc. increased its stake in JOYY by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider’s stock valued at $47,268,000 after acquiring an additional 13,560 shares during the period. LPL Financial LLC raised its position in JOYY by 18.4% in the fourth quarter. LPL Financial LLC now owns 13,419 shares of the information services provider’s stock worth $562,000 after purchasing an additional 2,088 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 worth $3,598,000 after purchasing an additional 74,232 shares during the period. 36.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on YY shares. Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. StockNews.com began coverage on JOYY in a research report on Wednesday. They issued a “hold” rating on the stock.

JOYY Trading Up 2.5 %

Shares of JOYY stock opened at $39.09 on Friday. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $55.31. The firm’s 50-day moving average price is $45.30 and its two-hundred day moving average price is $40.61. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 11.81 and a beta of 0.21.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be given a $0.93 dividend. This is an increase from JOYY’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, April 17th. This represents a $3.72 annualized dividend and a yield of 9.52%. JOYY’s payout ratio is presently -120.00%.

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.