Jane Street Group LLC Cuts Stock Position in JOYY Inc. (NASDAQ:YY)

Jane Street Group LLC cut its stake in shares of JOYY Inc. (NASDAQ:YY) by 39.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 75,597 shares of the information services provider’s stock after selling 48,663 shares during the period. Jane Street Group LLC’s holdings in JOYY were worth $3,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its position in JOYY by 1.3% in the third quarter. Barclays PLC now owns 20,543 shares of the information services provider’s stock valued at $744,000 after purchasing an additional 270 shares during the period. Aprio Wealth Management LLC acquired a new stake in shares of JOYY in the 4th quarter valued at approximately $202,000. Ritholtz Wealth Management boosted its stake in shares of JOYY by 69.1% in the fourth quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock valued at $1,550,000 after buying an additional 15,127 shares in the last quarter. Retireful LLC acquired a new position in JOYY during the fourth quarter worth $241,000. Finally, SG Americas Securities LLC raised its position in JOYY by 699.0% in the fourth quarter. SG Americas Securities LLC now owns 39,573 shares of the information services provider’s stock worth $1,656,000 after acquiring an additional 34,620 shares in the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Trading Up 1.3%

Shares of YY opened at $42.86 on Wednesday. JOYY Inc. has a 12-month low of $27.88 and a 12-month high of $55.31. The stock has a market cap of $2.31 billion, a P/E ratio of 12.95 and a beta of 0.21. The company has a 50-day moving average of $42.26 and a two-hundred day moving average of $41.55.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were paid a $0.93 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a yield of 8.68%. This is a positive change from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio is presently -120.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Benchmark upgraded shares of JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. StockNews.com began coverage on shares of JOYY in a report on Sunday. They set a “hold” rating on the stock.

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.