Krane Funds Advisors LLC Grows 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 fourth quarter, according to the company in its most recent 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 about 2.6% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 12th biggest position. Krane Funds Advisors LLC’s holdings in JOYY were worth $62,778,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in YY. Legal & General Group Plc boosted its position in shares of JOYY by 4.9% in the fourth quarter. Legal & General Group Plc now owns 97,917 shares of the information services provider’s stock worth $4,098,000 after acquiring an additional 4,609 shares during the last quarter. Polymer Capital Management HK LTD acquired a new position in shares of JOYY in the 4th quarter valued at $523,000. National Bank of Canada FI purchased a new stake in shares of JOYY during the 4th quarter valued at $2,553,000. Franklin Resources Inc. acquired a new stake in shares of JOYY during the 4th quarter worth $445,000. Finally, Wellington Management Group LLP raised its position in shares of JOYY by 500.5% in the 4th quarter. Wellington Management Group LLP now owns 104,731 shares of the information services provider’s stock worth $4,383,000 after buying an additional 87,290 shares during the period. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Trading Down 7.0 %

Shares of YY stock opened at $39.14 on Monday. The company has a market cap of $2.11 billion, a PE ratio of 11.82 and a beta of 0.21. The company’s fifty day simple moving average is $45.97 and its 200-day simple moving average 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. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 9.50%. The ex-dividend date of this dividend is Thursday, April 17th. This is a boost from JOYY’s previous quarterly dividend of $0.20. JOYY’s payout ratio is currently -120.00%.

Analyst Ratings Changes

A number of research firms have 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 JOYY from a “buy” rating to a “hold” rating in a report on Thursday, March 6th.

About JOYY

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.