Krane Funds Advisors LLC Boosts Stock Holdings in JOYY Inc. (NASDAQ:YY)

Krane Funds Advisors LLC grew its holdings in shares of JOYY Inc. (NASDAQ:YY) by 12.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,500,081 shares of the information services provider’s stock after purchasing an additional 160,545 shares during the period. JOYY makes up about 2.6% of Krane Funds Advisors LLC’s holdings, making the stock its 12th biggest position. Krane Funds Advisors LLC owned approximately 2.79% of JOYY worth $62,778,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in JOYY during the fourth quarter worth $25,000. Global Retirement Partners LLC boosted its position in shares of JOYY by 71.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock worth $45,000 after purchasing an additional 447 shares in the last quarter. Rhumbline Advisers grew its stake in shares of JOYY by 63.0% during the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after purchasing an additional 510 shares during the period. Aprio Wealth Management LLC acquired a new position in shares of JOYY during the 4th quarter worth $202,000. Finally, Blue Trust Inc. increased its holdings in shares of JOYY by 25.8% in the 4th quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider’s stock valued at $237,000 after purchasing an additional 1,162 shares in the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

YY has been the subject of a number of research analyst reports. StockNews.com cut shares of JOYY from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Benchmark raised JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th.

JOYY Trading Down 7.0 %

Shares of NASDAQ YY opened at $39.14 on Monday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 11.82 and a beta of 0.21. The company’s 50-day moving average price is $45.97 and its 200 day moving average price is $40.56. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $55.31.

JOYY Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 presently -120.00%.

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.