GF Fund Management CO. LTD. Buys Shares of 47,311 JOYY Inc. (NASDAQ:YY)

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

A number of other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in JOYY by 3.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 125,487 shares of the information services provider's stock valued at $5,252,000 after acquiring an additional 4,542 shares during the period. Vise Technologies Inc. bought a new position in JOYY in the fourth quarter valued at about $284,000. Tiger Pacific Capital LP lifted its holdings in JOYY by 23.1% in the fourth quarter. Tiger Pacific Capital LP now owns 680,676 shares of the information services provider's stock valued at $28,486,000 after acquiring an additional 127,829 shares during the period. Raiffeisen Bank International AG bought a new position in JOYY in the fourth quarter valued at about $85,000. Finally, MY.Alpha Management HK Advisors Ltd increased its position in JOYY by 23.3% in the fourth quarter. MY.Alpha Management HK Advisors Ltd now owns 575,318 shares of the information services provider's stock worth $24,077,000 after buying an additional 108,849 shares in the last quarter. Institutional investors own 36.83% of the company's stock.

JOYY Price Performance

Shares of JOYY stock traded up $2.03 on Thursday, reaching $48.21. The company had a trading volume of 592,835 shares, compared to its average volume of 499,372. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 14.56 and a beta of 0.21. The firm's 50-day moving average price is $41.46 and its two-hundred day moving average price is $42.20. 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 declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were paid a dividend of $0.93 per share. This is a positive change from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 dividend on an annualized basis and a dividend 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%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on YY. Wall Street Zen began coverage on JOYY in a research report on Monday, May 19th. They issued a "hold" rating for the company. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

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.