Tuya Inc. Sponsored ADR $TUYA Shares Acquired by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Tuya Inc. by 35.4% during the 1st quarter, owning about 3.82 million shares valued at approximately $11.57 million.
• Tuya recently announced a quarterly dividend of $0.054 per share, with a yield of 8.2%, scheduled to be paid on October 20th.
• Analysts have mixed views on Tuya stock, with Jefferies issuing a "buy" rating and a target price of $3.49, while Wall Street Zen downgraded it from "buy" to "hold".

Acadian Asset Management LLC boosted its holdings in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) by 35.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,824,150 shares of the company's stock after purchasing an additional 999,862 shares during the period. Acadian Asset Management LLC owned approximately 0.71% of Tuya worth $11,569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Baader Bank Aktiengesellschaft acquired a new stake in Tuya during the first quarter valued at approximately $32,000. Numerai GP LLC purchased a new stake in shares of Tuya in the 4th quarter valued at approximately $41,000. Cubist Systematic Strategies LLC lifted its position in shares of Tuya by 36.8% in the 4th quarter. Cubist Systematic Strategies LLC now owns 90,571 shares of the company's stock valued at $162,000 after acquiring an additional 24,377 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Tuya in the 1st quarter valued at approximately $85,000. Finally, Belvedere Trading LLC purchased a new stake in shares of Tuya in the 1st quarter valued at approximately $120,000. 11.47% of the stock is owned by institutional investors and hedge funds.

Tuya Stock Up 4.4%

TUYA stock opened at $2.63 on Friday. Tuya Inc. Sponsored ADR has a 12-month low of $1.28 and a 12-month high of $4.63. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 52.61 and a beta of 0.47. The company has a 50 day moving average of $2.49 and a two-hundred day moving average of $2.64.

Tuya Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Thursday, September 11th will be given a $0.054 dividend. The ex-dividend date is Thursday, September 11th. This represents a $0.22 dividend on an annualized basis and a yield of 8.2%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TUYA shares. Jefferies Financial Group started coverage on shares of Tuya in a research report on Tuesday, August 5th. They issued a "buy" rating and a $3.49 price target for the company. Wall Street Zen downgraded shares of Tuya from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Tuya presently has an average rating of "Buy" and an average target price of $3.49.

About Tuya

Tuya Inc offers purpose-built Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides platform-as-a-service that enables business, original equipment manufacturers, brands, and developers to develop, launch, manage, and monetize software-enabled smart devices and services; and industry software-as-a-service, which enables businesses to deploy, connect, and manage various types of smart devices.

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