Acadian Asset Management LLC Boosts Stock Holdings in Tuya Inc. Sponsored ADR $TUYA

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 lifted its stake in shares of Tuya Inc. Sponsored ADR (NYSE:TUYA - Free Report) by 35.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,824,150 shares of the company's stock after buying an additional 999,862 shares during the period. Acadian Asset Management LLC owned about 0.71% of Tuya worth $11,569,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TUYA. Northern Trust Corp raised its position in Tuya by 108.0% during the 4th quarter. Northern Trust Corp now owns 423,721 shares of the company's stock worth $758,000 after purchasing an additional 220,056 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Tuya during the 4th quarter worth $121,000. Cubist Systematic Strategies LLC raised its position in Tuya by 36.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 90,571 shares of the company's stock worth $162,000 after purchasing an additional 24,377 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Tuya by 16.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 315,415 shares of the company's stock worth $565,000 after acquiring an additional 44,338 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Tuya by 35.4% in the 4th quarter. Millennium Management LLC now owns 1,992,779 shares of the company's stock worth $3,567,000 after acquiring an additional 521,515 shares in the last quarter. 11.47% of the stock is currently owned by institutional investors and hedge funds.

Tuya Price Performance

Shares of NYSE TUYA traded down $0.03 during midday trading on Wednesday, reaching $2.60. The company's stock had a trading volume of 1,195,450 shares, compared to its average volume of 2,736,305. Tuya Inc. Sponsored ADR has a 12-month low of $1.28 and a 12-month high of $4.63. The firm has a 50 day moving average price of $2.50 and a 200-day moving average price of $2.62. The stock has a market capitalization of $1.40 billion, a P/E ratio of 51.91 and a beta of 0.47.

Tuya Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Thursday, September 11th will be paid a $0.054 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date is Thursday, September 11th.

Wall Street Analysts Forecast Growth

TUYA has been the subject of a number of research analyst reports. Wall Street Zen lowered Tuya from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Jefferies Financial Group initiated coverage on Tuya in a research report on Tuesday, August 5th. They issued a "buy" rating and a $3.49 target price for the company. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Tuya has an average rating of "Buy" and an average target price of $3.49.

Tuya Company Profile

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.