AI Squared Management Ltd Acquires Shares of 247,604 JOYY Inc. (NASDAQ:YY)

AI Squared Management Ltd bought a new position in shares of JOYY Inc. (NASDAQ:YY) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 247,604 shares of the information services provider’s stock, valued at approximately $10,362,000. JOYY accounts for approximately 10.6% of AI Squared Management Ltd’s holdings, making the stock its 2nd biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC raised its position in shares of JOYY by 1.7% during the 3rd quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock worth $769,000 after purchasing an additional 352 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of JOYY by 45.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock valued at $3,615,000 after acquiring an additional 31,341 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of JOYY in the third quarter valued at approximately $25,000. FMR LLC boosted its stake in shares of JOYY by 4.3% in the third quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock worth $24,591,000 after acquiring an additional 28,126 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of JOYY by 35.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,436 shares of the information services provider’s stock worth $1,103,000 after purchasing an additional 8,019 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Stock Performance

NASDAQ:YY opened at $42.50 on Tuesday. JOYY Inc. has a one year low of $27.88 and a one year high of $55.31. The stock has a market cap of $2.29 billion, a PE ratio of 12.84 and a beta of 0.21. The stock has a 50 day moving average price of $46.10 and a 200 day moving average price of $40.14.

JOYY Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Thursday, April 17th. 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 dividend yield of 8.75%. JOYY’s dividend payout ratio (DPR) is -120.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com lowered JOYY from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a research note 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.