Balyasny Asset Management L.P. Buys Shares of 6,813 JOYY Inc. (NASDAQ:YY)

Balyasny Asset Management L.P. bought a new stake in JOYY Inc. (NASDAQ:YY) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 6,813 shares of the information services provider’s stock, valued at approximately $285,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its stake 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 valued at $45,000 after acquiring an additional 447 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of JOYY by 63.0% in the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after buying an additional 510 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of JOYY in the fourth quarter worth $25,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of JOYY by 54.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider’s stock worth $104,000 after buying an additional 883 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its stake in shares of JOYY by 8.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 12,500 shares of the information services provider’s stock worth $523,000 after buying an additional 1,000 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on YY shares. StockNews.com started coverage on shares of JOYY in a research note on Sunday, May 11th. They issued a “hold” rating for the company. Benchmark upgraded shares of JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th.

JOYY Trading Down 1.0%

Shares of YY stock opened at $42.20 on Friday. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31. The firm’s fifty day simple moving average is $41.89 and its 200 day simple moving average is $41.72. The firm has a market capitalization of $2.27 billion, a P/E ratio of 12.75 and a beta of 0.21.

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 given a dividend of $0.93 per share. The ex-dividend date was Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a yield of 8.82%. This is a positive change from JOYY’s previous quarterly dividend of $0.20. JOYY’s payout ratio is -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.