JOYY Inc. (NASDAQ:YY) Holdings Increased by Cape Ann Asset Management Ltd

Cape Ann Asset Management Ltd raised its position in JOYY Inc. (NASDAQ:YY - Free Report) by 47.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,900 shares of the information services provider's stock after purchasing an additional 154,200 shares during the period. JOYY accounts for 11.8% of Cape Ann Asset Management Ltd's investment portfolio, making the stock its 5th biggest position. Cape Ann Asset Management Ltd owned about 0.84% of JOYY worth $17,283,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in YY. Canada Pension Plan Investment Board raised its position in JOYY by 10.0% during the second quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider's stock valued at $21,990,000 after purchasing an additional 66,474 shares in the last quarter. Krane Funds Advisors LLC increased its stake in JOYY by 10.5% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider's stock worth $42,561,000 after purchasing an additional 134,394 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of JOYY in the third quarter worth $725,000. Point72 Hong Kong Ltd raised its stake in shares of JOYY by 22.3% during the second quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider's stock valued at $90,952,000 after acquiring an additional 552,082 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of JOYY by 12.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider's stock worth $79,000 after purchasing an additional 300 shares during the period. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on JOYY from $30.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, September 3rd. Benchmark reissued a "hold" rating on shares of JOYY in a research note on Thursday, August 29th.

JOYY Price Performance

YY traded down $2.12 on Friday, hitting $33.91. The company had a trading volume of 441,962 shares, compared to its average volume of 365,708. The stock has a fifty day simple moving average of $35.04 and a 200-day simple moving average of $33.56. The firm has a market capitalization of $1.94 billion, a P/E ratio of 8.23 and a beta of 0.25. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $41.84.

JOYY (NASDAQ:YY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 27th. The information services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.81 by $0.27. JOYY had a return on equity of 4.98% and a net margin of 9.53%. The business had revenue of $565.13 million during the quarter, compared to analyst estimates of $556.82 million. Equities research analysts expect that JOYY Inc. will post 3.4 earnings per share for the current fiscal year.

JOYY 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.