Nuveen Asset Management LLC Increases Holdings in JOYY Inc. (NASDAQ:YY)

Nuveen Asset Management LLC raised its stake in shares of JOYY Inc. (NASDAQ:YY) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 344,400 shares of the information services provider’s stock after buying an additional 18,100 shares during the quarter. Nuveen Asset Management LLC owned about 0.64% of JOYY worth $14,413,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. OLP CAPITAL MANAGEMENT Ltd purchased a new position in JOYY during the fourth quarter valued at $57,840,000. D. E. Shaw & Co. Inc. increased its holdings in shares of JOYY by 1,793.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider’s stock worth $12,737,000 after purchasing an additional 288,285 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of JOYY in the 4th quarter worth $2,653,000. BRIGHT VALLEY CAPITAL Ltd increased its holdings in shares of JOYY by 46.5% in the 4th quarter. BRIGHT VALLEY CAPITAL Ltd now owns 376,000 shares of the information services provider’s stock worth $15,736,000 after purchasing an additional 119,369 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in shares of JOYY in the 4th quarter worth $285,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Stock Performance

JOYY stock opened at $43.64 on Monday. The stock has a market cap of $2.35 billion, a PE ratio of 13.18 and a beta of 0.21. JOYY Inc. has a one year low of $27.88 and a one year high of $55.31. The stock has a fifty day moving average of $41.39 and a 200 day moving average of $42.10.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a $0.93 dividend. This is an increase from JOYY’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.52%. JOYY’s dividend payout ratio (DPR) is presently -120.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on YY shares. Benchmark raised JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Wall Street Zen started coverage on JOYY in a report on Monday, May 19th. They issued a “hold” rating for the company.

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.