GF Fund Management CO. LTD. Buys New Position in JOYY Inc. (NASDAQ:YY)

GF Fund Management CO. LTD. acquired a new stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 47,311 shares of the information services provider's stock, valued at approximately $1,980,000. GF Fund Management CO. LTD. owned approximately 0.09% of JOYY as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Global Retirement Partners LLC boosted its holdings in shares of JOYY by 71.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock valued at $45,000 after buying an additional 447 shares during the period. Rhumbline Advisers lifted its holdings in JOYY by 63.0% in the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock worth $55,000 after acquiring an additional 510 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in JOYY in the fourth quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of JOYY by 54.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock valued at $104,000 after purchasing an additional 883 shares during the last quarter. Finally, Atria Wealth Solutions Inc. grew its holdings in shares of JOYY by 8.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 12,500 shares of the information services provider's stock valued at $523,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 36.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on YY shares. Wall Street Zen started coverage on JOYY in a research report on Monday, May 19th. They set a "hold" rating for the company. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th.

JOYY Stock Performance

Shares of NASDAQ:YY traded up $2.03 during trading hours on Friday, hitting $48.21. The stock had a trading volume of 592,835 shares, compared to its average volume of 497,864. The stock's fifty day simple moving average is $41.57 and its 200 day simple moving average is $42.30. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 14.56 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were given a $0.93 dividend. This is a boost from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a yield of 7.72%. The ex-dividend date of this dividend was Thursday, April 17th. JOYY's dividend payout ratio (DPR) is currently -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.