5 Best Dividend Stocks According to Tiger Cub Rob Citrone

2. JOYY Inc. (NASDAQ:YY)

Number of Hedge Fund Holders: 21
Dividend Yield as of February 2: 4.20%
Discovery Capital Management’s Stake Value: $18,851,000

JOYY Inc. (NASDAQ:YY) is a video-based social media platform that engages users on personal computers and mobile devices. The company is based in Singapore. In Q3 2021, Discovery Capital Management increased its stake in JOYY Inc. (NASDAQ:YY) significantly by 1,031%, which represented 1.41% of Rob Citrone’s portfolio.

JOYY Inc. (NASDAQ:YY) currently pays a quarterly dividend of $0.51 per share, with a dividend yield of 4.20%. In December, Morgan Stanley presented a positive stance on the company, calling it a Research Tactical Idea due to its user growth. The firm maintained an Overweight rating on JOYY Inc. (NASDAQ:YY)’s shares. Since the beginning of 2022, the stock has delivered a 5.7% return to shareholders, as of the market close of February 2.

As of Q3 2021, 21 hedge funds tracked by Insider Monkey reported owning stakes in JOYY Inc. (NASDAQ:YY), down from 24 in the previous quarter. These stakes hold a consolidated value of over $250 million.

Tao Value mentioned JOYY Inc. (NASDAQ:YY) in its Q1 2021 investor letter. Here is what the firm has to say:

“We exited YY after 3.5 years near all-time high. The annualized return (13~%) yet is below expectation, especially compared to founder CEO David Xueling Li’s net worth (mainly in YY shares) ballooning from $1.1B in 2018 to $2.3B in 2021. On value realization, I think YY did a good job, acquiring Bigo, spinning off then selling Huya & selling YY Live to Baidu. But as a minority shareholder, we were treated unfairly. E.g. the Bigo deal (for buying shares from executives including Li) was done by YY stock when the price was severely depressed, causing significant dilution for our ownership. We learned our lessons and will evaluate more rigorously in management’s partnership mindset in the future.”