Polymer Capital Management HK LTD Invests $523,000 in JOYY Inc. (NASDAQ:YY)

Polymer Capital Management HK LTD acquired a new stake in JOYY Inc. (NASDAQ:YY) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 12,500 shares of the information services provider’s stock, valued at approximately $523,000.

A number of other hedge funds and other institutional investors have also modified their holdings of YY. Charles Schwab Investment Management Inc. raised its position in JOYY by 33.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 132,757 shares of the information services provider’s stock worth $5,556,000 after acquiring an additional 33,009 shares in the last quarter. FMR LLC increased its stake in shares of JOYY by 4.3% during the 3rd quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock worth $24,591,000 after purchasing an additional 28,126 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of JOYY in the 4th quarter valued at about $501,000. Rhumbline Advisers lifted its stake in 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 purchasing an additional 510 shares during the last quarter. Finally, Ritholtz Wealth Management increased its position in JOYY by 69.1% during the fourth quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock worth $1,550,000 after buying an additional 15,127 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Stock Down 7.0 %

JOYY stock opened at $39.14 on Monday. The company’s 50-day moving average price is $45.97 and its two-hundred day moving average price is $40.56. The stock 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.

JOYY Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be paid a dividend of $0.93 per share. The ex-dividend date is Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 9.50%. This is a positive change from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio (DPR) is -120.00%.

Analysts Set New Price Targets

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

JOYY 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.