Tiger Pacific Capital LP Has $28.49 Million Stake in JOYY Inc. (NASDAQ:YY)

Tiger Pacific Capital LP increased its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 23.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 680,676 shares of the information services provider's stock after acquiring an additional 127,829 shares during the period. JOYY comprises approximately 7.6% of Tiger Pacific Capital LP's holdings, making the stock its 4th largest holding. Tiger Pacific Capital LP owned approximately 1.26% of JOYY worth $28,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. 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 in the last quarter. Rhumbline Advisers boosted its position in JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock valued at $55,000 after buying an additional 510 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in JOYY in the 4th quarter valued at $25,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of JOYY by 54.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock valued at $104,000 after buying an additional 883 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position 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 worth $523,000 after acquiring an additional 1,000 shares during the last quarter. 36.83% of the stock is owned by institutional investors and hedge funds.

JOYY Stock Performance

YY traded up $0.33 during trading on Tuesday, reaching $42.53. 180,961 shares of the company's stock were exchanged, compared to its average volume of 494,107. The company's fifty day moving average price is $41.68 and its 200-day moving average price is $41.84. The firm has a market capitalization of $2.29 billion, a PE ratio of 12.85 and a beta of 0.21. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $55.31.

JOYY Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 17th were issued a dividend of $0.93 per share. The ex-dividend date was Thursday, April 17th. This represents a $3.72 dividend on an annualized basis and a yield of 8.75%. This is a boost from JOYY's previous quarterly dividend of $0.20. JOYY's payout ratio is currently -120.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on YY. StockNews.com began coverage on JOYY in a report on Monday. They issued a "hold" rating on the stock. Benchmark upgraded shares of JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.

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.