MY.Alpha Management HK Advisors Ltd Has $24.08 Million Holdings in JOYY Inc. (NASDAQ:YY)

MY.Alpha Management HK Advisors Ltd boosted its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 23.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 575,318 shares of the information services provider's stock after purchasing an additional 108,849 shares during the period. JOYY comprises approximately 10.7% of MY.Alpha Management HK Advisors Ltd's portfolio, making the stock its 2nd largest position. MY.Alpha Management HK Advisors Ltd owned 1.07% of JOYY worth $24,077,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of YY. Yunqi Capital Ltd boosted its stake in JOYY by 102.3% during the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider's stock valued at $71,605,000 after purchasing an additional 865,285 shares in the last quarter. Krane Funds Advisors LLC lifted its position in JOYY by 12.0% in the 4th quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider's stock valued at $62,778,000 after acquiring an additional 160,545 shares in the last quarter. OLP CAPITAL MANAGEMENT Ltd bought a new stake in shares of JOYY in the 4th quarter valued at about $57,840,000. Vanguard Group Inc. grew its position in shares of JOYY by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider's stock worth $47,268,000 after purchasing an additional 13,560 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in JOYY by 1.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 825,299 shares of the information services provider's stock valued at $34,539,000 after purchasing an additional 13,710 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

JOYY Stock Down 1.0%

Shares of NASDAQ:YY traded down $0.43 during trading on Monday, hitting $42.20. 143,253 shares of the stock traded hands, compared to its average volume of 492,667. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 12.75 and a beta of 0.21. The company has a fifty day moving average price of $41.89 and a two-hundred day moving average price of $41.77. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31.

JOYY Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 17th were paid a $0.93 dividend. This is a positive change from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a yield of 8.82%. The ex-dividend date of this dividend was Thursday, April 17th. JOYY's dividend payout ratio is currently -120.00%.

Analyst Upgrades and Downgrades

YY has been the subject of a number of recent analyst reports. Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th. StockNews.com assumed coverage on shares of JOYY in a research report on Monday. They issued a "hold" rating on the stock.

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.