Harvest Fund Management Co. Ltd Sells 6,888 Shares of JOYY Inc. (NASDAQ:YY)

Harvest Fund Management Co. Ltd trimmed its position in shares of JOYY Inc. (NASDAQ:YY) by 37.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,679 shares of the information services provider’s stock after selling 6,888 shares during the period. Harvest Fund Management Co. Ltd’s holdings in JOYY were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in JOYY by 631.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,983 shares of the information services provider’s stock valued at $3,598,000 after purchasing an additional 74,232 shares during the period. Yunqi Capital Ltd lifted its position in shares of JOYY by 102.3% during the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock worth $71,605,000 after acquiring an additional 865,285 shares in the last quarter. Amundi lifted its position in shares of JOYY by 24.2% during the fourth quarter. Amundi now owns 24,392 shares of the information services provider’s stock worth $940,000 after acquiring an additional 4,747 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of JOYY during the fourth quarter worth $409,000. Finally, E Fund Management Co. Ltd. lifted its position in shares of JOYY by 50.5% during the fourth quarter. E Fund Management Co. Ltd. now owns 156,688 shares of the information services provider’s stock worth $6,557,000 after acquiring an additional 52,590 shares in the last quarter. 36.83% of the stock is owned by institutional investors.

JOYY Stock Performance

Shares of YY stock opened at $41.97 on Friday. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31. The company has a market capitalization of $2.26 billion, a PE ratio of 12.68 and a beta of 0.21. The business’s fifty day moving average is $46.04 and its 200 day moving average is $40.00.

JOYY Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 8.86%. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from JOYY’s previous quarterly dividend of $0.20. JOYY’s dividend payout ratio (DPR) is 5.74%.

Wall Street Analysts Forecast Growth

YY has been the topic of several recent research reports. Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th.

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.