Charles Schwab Investment Management Inc. Boosts Stock Position in JOYY Inc. (NASDAQ:YY)

Charles Schwab Investment Management Inc. raised its position in JOYY Inc. (NASDAQ:YY) by 33.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,757 shares of the information services provider’s stock after purchasing an additional 33,009 shares during the period. Charles Schwab Investment Management Inc. owned about 0.25% of JOYY worth $5,556,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of JOYY by 4.3% in the 3rd quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock valued at $24,591,000 after purchasing an additional 28,126 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in JOYY during the fourth quarter valued at about $501,000. Rhumbline Advisers increased its stake in JOYY by 63.0% during the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after acquiring an additional 510 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of JOYY by 69.1% in the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock worth $1,550,000 after purchasing an additional 15,127 shares during the period. Finally, Whitefort Capital Management LP raised its holdings in shares of JOYY by 168.3% in the 3rd quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock worth $20,507,000 after purchasing an additional 354,932 shares during the period. 36.83% of the stock is owned by institutional investors and hedge funds.

JOYY Price Performance

Shares of YY stock opened at $42.03 on Wednesday. The company’s fifty day moving average price is $46.14 and its two-hundred day moving average price is $40.19. The firm has a market capitalization of $2.26 billion, a P/E ratio of 12.70 and a beta of 0.21. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31.

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 paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date is Thursday, April 17th. This is a positive change from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio (DPR) is -120.00%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on YY shares. StockNews.com downgraded shares of JOYY from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

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.