Krane Funds Advisors LLC Grows Stock Position in JOYY Inc. (NASDAQ:YY)

Krane Funds Advisors LLC lifted its position in JOYY Inc. (NASDAQ:YY - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & 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 quarter. JOYY makes up 2.6% of Krane Funds Advisors LLC's investment portfolio, making the stock its 12th biggest holding. Krane Funds Advisors LLC owned about 2.79% of JOYY worth $62,778,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in JOYY in the 4th quarter valued at about $25,000. Global Retirement Partners LLC increased its holdings in shares of JOYY by 71.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock valued at $45,000 after purchasing an additional 447 shares during the period. Rhumbline Advisers raised its stake in shares of JOYY by 63.0% during the fourth 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 last quarter. Aprio Wealth Management LLC acquired a new stake in shares of JOYY during the fourth quarter worth $202,000. Finally, Blue Trust Inc. grew its position in 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 buying an additional 1,162 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on YY. StockNews.com began coverage on shares of JOYY in a research note on Wednesday. They issued a "hold" rating for the company. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.

JOYY Price Performance

Shares of NASDAQ YY traded up $0.89 during trading on Friday, hitting $39.30. 541,828 shares of the company were exchanged, compared to its average volume of 475,192. The firm's fifty day moving average price is $45.16 and its 200 day moving average price is $40.63. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 11.87 and a beta of 0.21. 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th will be issued a $0.93 dividend. The ex-dividend date is Thursday, April 17th. This is a boost from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 dividend on an annualized basis and a yield of 9.47%. JOYY's dividend payout ratio (DPR) is -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.