OLP CAPITAL MANAGEMENT Ltd Invests $57.84 Million in JOYY Inc. (NASDAQ:YY)

OLP CAPITAL MANAGEMENT Ltd purchased a new stake in JOYY Inc. (NASDAQ:YY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,382,086 shares of the information services provider's stock, valued at approximately $57,840,000. JOYY makes up about 7.3% of OLP CAPITAL MANAGEMENT Ltd's investment portfolio, making the stock its 5th biggest holding. OLP CAPITAL MANAGEMENT Ltd owned 2.57% of JOYY at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Yunqi Capital Ltd grew its stake in JOYY by 102.3% in 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 acquiring an additional 865,285 shares during the last quarter. Krane Funds Advisors LLC grew its position in shares of JOYY by 12.0% in the fourth quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider's stock valued at $62,778,000 after purchasing an additional 160,545 shares during the last quarter. Vanguard Group Inc. grew its position in shares of JOYY by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider's stock valued at $47,268,000 after purchasing an additional 13,560 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of JOYY by 1.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 825,299 shares of the information services provider's stock worth $34,539,000 after purchasing an additional 13,710 shares in the last quarter. Finally, BRIGHT VALLEY CAPITAL Ltd raised its position in shares of JOYY by 46.5% during the 4th quarter. BRIGHT VALLEY CAPITAL Ltd now owns 376,000 shares of the information services provider's stock worth $15,736,000 after purchasing an additional 119,369 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Price Performance

Shares of NASDAQ YY opened at $42.32 on Tuesday. The company has a 50-day simple moving average of $42.41 and a 200-day simple moving average of $41.54. The company has a market cap of $2.28 billion, a PE ratio of 12.79 and a beta of 0.21. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31.

JOYY Increases Dividend

The company also recently announced 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 boost from JOYY's previous quarterly dividend of $0.20. This represents a $3.72 annualized dividend and a yield of 8.79%. The ex-dividend date was Thursday, April 17th. JOYY's payout ratio is presently -120.00%.

Analyst Ratings Changes

A number of brokerages have commented on YY. Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. StockNews.com started coverage on JOYY in a research report on Sunday. They issued a "hold" rating on the stock.

JOYY 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.

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