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

Harvest Fund Management Co. Ltd lowered its position in shares of JOYY Inc. (NASDAQ:YY) by 37.1% in the 4th quarter, HoldingsChannel reports. The firm owned 11,679 shares of the information services provider’s stock after selling 6,888 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in JOYY were worth $489,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in YY. Natixis Advisors LLC lifted its stake in JOYY by 1.7% during the third quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock worth $769,000 after purchasing an additional 352 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in JOYY by 45.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock worth $3,615,000 after purchasing an additional 31,341 shares during the last quarter. Cape Ann Asset Management Ltd lifted its stake in JOYY by 47.8% during the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock worth $17,283,000 after purchasing an additional 154,200 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in JOYY during the third quarter worth about $25,000. Finally, FMR LLC lifted its stake in JOYY by 4.3% during the third quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock worth $24,591,000 after purchasing an additional 28,126 shares during the last quarter. Institutional investors own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on YY shares. Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a report on Thursday, March 6th.

JOYY Trading Up 1.8 %

YY opened at $41.97 on Friday. The company has a market cap of $2.26 billion, a P/E ratio of 12.68 and a beta of 0.21. The business’s 50-day moving average price is $46.04 and its 200-day moving average price is $40.00. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $55.31.

JOYY Increases Dividend

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

JOYY Company 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.