Healthcare of Ontario Pension Plan Trust Fund Purchases New Holdings in JOYY Inc. (NASDAQ:YY)

Defense World · Nov 26, 2022 19:01

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in JOYY Inc. (NASDAQ:YY – Get Rating) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,259 shares of the information services provider's stock, valued at approximately $1,053,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS Group AG lifted its holdings in JOYY by 81.3% during the 2nd quarter. UBS Group AG now owns 272,056 shares of the information services provider's stock worth $8,123,000 after buying an additional 122,036 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of JOYY by 117.0% during the 2nd quarter. Principal Financial Group Inc. now owns 17,106 shares of the information services provider's stock worth $511,000 after purchasing an additional 9,224 shares during the period. Desjardins Global Asset Management Inc. acquired a new stake in shares of JOYY during the 2nd quarter worth approximately $274,000. Duality Advisers LP raised its position in shares of JOYY by 43.0% during the 2nd quarter. Duality Advisers LP now owns 86,053 shares of the information services provider's stock worth $2,570,000 after purchasing an additional 25,863 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of JOYY by 13.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,439 shares of the information services provider's stock worth $610,000 after purchasing an additional 2,440 shares during the period. Hedge funds and other institutional investors own 43.07% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com cut JOYY from a "buy" rating to a "hold" rating in a research report on Friday, October 14th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, JOYY presently has a consensus rating of "Hold" and a consensus price target of $51.00.

JOYY Stock Down 2.6 %

YY opened at $27.11 on Friday. JOYY Inc. has a 12 month low of $21.38 and a 12 month high of $55.21. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market cap of $2.11 billion, a P/E ratio of 36.64 and a beta of 0.54. The stock's 50 day moving average price is $26.83 and its 200 day moving average price is $29.39.

JOYY (NASDAQ:YY – Get Rating) last posted its earnings results on Monday, August 29th. The information services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.05 by $0.49. JOYY had a return on equity of 3.47% and a net margin of 2.75%. The firm had revenue of $596.10 million for the quarter, compared to analysts' expectations of $590.85 million. During the same period last year, the firm earned ($0.01) EPS. As a group, research analysts predict that JOYY Inc. will post 1.4 earnings per share for the current year.

JOYY Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Thursday, September 22nd were given a dividend of $0.507 per share. This represents a $2.03 annualized dividend and a dividend yield of 7.48%. The ex-dividend date was Wednesday, September 21st. JOYY's dividend payout ratio (DPR) is presently 274.32%.

JOYY Company Profile

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JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc..

Healthcare of Ontario Pension Plan Trust Fund Purchases New Holdings in JOYY Inc. (NASDAQ:YY)

Wall Street Analysts Forecast Growth

JOYY Stock Down 2.6 %

JOYY Cuts Dividend

JOYY Company Profile

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