12,500 Shares in JOYY Inc. (NASDAQ:YY) Purchased by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD bought a new stake in shares of JOYY Inc. (NASDAQ:YY) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,500 shares of the information services provider’s stock, valued at approximately $523,000.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in shares of JOYY during the fourth quarter worth $25,000. Global Retirement Partners LLC grew its position in shares of JOYY by 71.5% during the 4th 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 increased its stake in shares of JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after acquiring an additional 510 shares during the last quarter. Aprio Wealth Management LLC acquired a new stake in shares of JOYY in the 4th quarter valued at approximately $202,000. Finally, Blue Trust Inc. boosted its stake in JOYY by 25.8% during the 4th 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. Institutional investors own 36.83% of the company’s stock.

JOYY Stock Performance

Shares of YY opened at $39.14 on Monday. The firm has a market cap of $2.11 billion, a P/E ratio of 11.82 and a beta of 0.21. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $55.31. The firm’s 50 day moving average price is $45.97 and its two-hundred day moving average price is $40.56.

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 $0.93 dividend. This is a boost from JOYY’s previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a yield of 9.50%. The ex-dividend date is Thursday, April 17th. JOYY’s payout ratio is currently -120.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on YY. StockNews.com cut 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.