Cresset Asset Management LLC Has $389,000 Stock Holdings in JOYY Inc. (NASDAQ:YY)

Cresset Asset Management LLC cut its holdings in shares of JOYY Inc. (NASDAQ:YY) by 15.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,291 shares of the information services provider’s stock after selling 1,668 shares during the period. Cresset Asset Management LLC’s holdings in JOYY were worth $389,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in shares of JOYY in the 4th quarter worth approximately $2,653,000. BRIGHT VALLEY CAPITAL Ltd lifted its position 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 during the period. Balyasny Asset Management L.P. bought a new stake in shares of JOYY in the 4th quarter valued at $285,000. BNP Paribas Financial Markets bought a new stake in shares of JOYY in the 4th quarter valued at $15,448,000. Finally, Northern Trust Corp increased its stake in shares of JOYY by 66.0% in the 4th quarter. Northern Trust Corp now owns 94,126 shares of the information services provider’s stock valued at $3,939,000 after acquiring an additional 37,435 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Price Performance

YY opened at $42.30 on Friday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.78 and a beta of 0.21. The firm’s fifty day moving average price is $42.01 and its two-hundred day moving average price is $41.61. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $55.31.

JOYY Increases Dividend

The business also recently declared 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. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.79%. The ex-dividend date was Thursday, April 17th. JOYY’s payout ratio is -120.00%.

Wall Street Analyst Weigh In

A number of brokerages have commented on YY. Benchmark upgraded shares of JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. StockNews.com started coverage on shares of JOYY in a report on Sunday, May 11th. They set a “hold” rating on the stock.

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.