JOYY (NASDAQ:YY) Sees Strong Trading Volume Following Dividend Announcement

Shares of JOYY Inc. (NASDAQ:YY) saw unusually-strong trading volume on Friday following a dividend announcement from the company. Approximately 1,000,891 shares changed hands during trading, an increase of 118% from the previous session’s volume of 460,152 shares.The stock last traded at $42.17 and had previously closed at $41.23.

The newly announced dividend which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be paid a $0.93 dividend. This is an increase from JOYY’s previous quarterly dividend of $0.20. This represents a $3.72 dividend on an annualized basis and a yield of 8.86%. The ex-dividend date is Thursday, April 17th. JOYY’s dividend payout ratio (DPR) is currently -120.00%.

Analyst Ratings Changes

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

JOYY Price Performance

The stock has a market capitalization of $2.26 billion, a PE ratio of 12.68 and a beta of 0.21. The firm’s 50 day simple moving average is $46.04 and its 200 day simple moving average is $40.04.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new position in shares of JOYY in the fourth quarter worth approximately $1,980,000. Public Employees Retirement System of Ohio grew its holdings in shares of JOYY by 3.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 125,487 shares of the information services provider’s stock worth $5,252,000 after purchasing an additional 4,542 shares during the last quarter. Vise Technologies Inc. bought a new position in shares of JOYY in the fourth quarter worth approximately $284,000. Tiger Pacific Capital LP grew its holdings in shares of JOYY by 23.1% in the fourth quarter. Tiger Pacific Capital LP now owns 680,676 shares of the information services provider’s stock worth $28,486,000 after purchasing an additional 127,829 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in JOYY in the fourth quarter valued at $85,000. Institutional investors own 36.83% of the company’s stock.

JOYY Company 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.