Franklin Resources Inc. Makes New $445,000 Investment in JOYY Inc. (NASDAQ:YY)

Franklin Resources Inc. acquired a new position in shares of JOYY Inc. (NASDAQ:YY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,645 shares of the information services provider’s stock, valued at approximately $445,000.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in JOYY in the 4th quarter valued at about $25,000. Global Retirement Partners LLC boosted its position in JOYY by 71.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock worth $45,000 after purchasing an additional 447 shares during the last quarter. Rhumbline Advisers grew its stake in JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 510 shares during the period. Aprio Wealth Management LLC purchased a new stake in shares of JOYY during the 4th quarter valued at $202,000. Finally, Blue Trust Inc. raised its stake in shares of JOYY by 25.8% during the 4th quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider’s stock worth $237,000 after purchasing an additional 1,162 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on YY. Benchmark upgraded shares of JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. StockNews.com began coverage on shares of JOYY in a report on Thursday. They issued a “hold” rating on the stock.

JOYY Stock Down 3.5 %

Shares of NASDAQ:YY opened at $40.26 on Friday. The firm has a market capitalization of $2.17 billion, a PE ratio of 12.16 and a beta of 0.21. The company has a 50-day moving average price of $44.74 and a two-hundred day moving average price of $40.69. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $55.31.

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 paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 9.24%. This is a positive change from JOYY’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, April 17th. JOYY’s payout ratio is currently -120.00%.

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.