Headlands Technologies LLC Decreases Stock Holdings in JOYY Inc. (NASDAQ:YY)
Headlands Technologies LLC has reduced its stake in JOYY Inc. (NASDAQ:YY) by 77.5%, now holding 3,657 shares valued at $153,000. Other institutional investors have also adjusted their positions, with SBI Securities purchasing a new stake worth $25,000 and Global Retirement Partners increasing its holdings by 71.5%. JOYY's stock has decreased by 7.0%, currently priced at $39.14. The company announced a quarterly dividend of $0.93, up from $0.20, with a yield of 9.50%. Analysts have mixed ratings on JOYY, with some upgrading and others downgrading the stock.
Headlands Technologies LLC cut its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 77.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,657 shares of the information services provider's stock after selling 12,585 shares during the period. Headlands Technologies LLC's holdings in JOYY were worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in JOYY during the fourth quarter worth about $25,000. Global Retirement Partners LLC increased its holdings 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 last quarter. Rhumbline Advisers lifted its holdings in JOYY by 63.0% in the fourth 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 purchased a new position in JOYY in the fourth quarter worth approximately $202,000. Finally, Blue Trust Inc. increased its stake in JOYY by 25.8% during the fourth 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 and hedge funds own 36.83% of the company's stock.
JOYY Stock Down 7.0 %
Shares of NASDAQ YY opened at $39.14 on Friday. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 11.82 and a beta of 0.21. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31. The business's 50 day moving average is $45.97 and its two-hundred day moving average is $40.52.
JOYY Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 9.50%. The ex-dividend date is Thursday, April 17th. This is an increase from JOYY's previous quarterly dividend of $0.20. JOYY's payout ratio is currently -120.00%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on YY. StockNews.com lowered JOYY from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.
Read Our Latest Report on JOYY
JOYY Company Profile
(Free Report)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.
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