Fmr LLC Purchases 28,126 Shares of JOYY Inc. (NASDAQ:YY)

FMR LLC boosted its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 4.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 678,551 shares of the information services provider's stock after purchasing an additional 28,126 shares during the period. FMR LLC owned about 1.19% of JOYY worth $24,591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in YY. Northwestern Mutual Wealth Management Co. grew its position in JOYY by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider's stock worth $79,000 after acquiring an additional 300 shares in the last quarter. Natixis Advisors LLC grew its position in JOYY by 1.7% in the third quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider's stock worth $769,000 after acquiring an additional 352 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in JOYY by 5.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider's stock worth $291,000 after acquiring an additional 421 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in JOYY in the third quarter worth approximately $25,000. Finally, Atlas Capital Advisors LLC bought a new stake in JOYY in the second quarter worth approximately $29,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

JOYY Price Performance

Shares of NASDAQ YY traded down $0.79 during trading hours on Tuesday, hitting $40.46. 244,840 shares of the stock were exchanged, compared to its average volume of 480,928. The company's 50 day moving average is $35.81 and its 200 day moving average is $34.05. The firm has a market capitalization of $2.18 billion, a P/E ratio of 12.22 and a beta of 0.26. JOYY Inc. has a one year low of $27.88 and a one year high of $42.76.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of JOYY from $30.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 3rd. Benchmark reaffirmed a "hold" rating on shares of JOYY in a report on Thursday, August 29th.

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.