Healthcare of Ontario Pension Plan Trust Fund Sells 86,300 Shares of JOYY Inc. (NASDAQ:YY)

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 64.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,100 shares of the information services provider's stock after selling 86,300 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.08% of JOYY worth $1,743,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board grew its stake in JOYY by 10.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider's stock valued at $21,990,000 after acquiring an additional 66,474 shares in the last quarter. Cape Ann Asset Management Ltd increased its stake in JOYY by 47.8% in the 3rd quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider's stock valued at $17,283,000 after buying an additional 154,200 shares during the period. Krane Funds Advisors LLC boosted its stake in shares of JOYY by 10.5% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider's stock valued at $42,561,000 after buying an additional 134,394 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of JOYY during the 3rd quarter valued at $725,000. Finally, Point72 Hong Kong Ltd increased its stake in shares of JOYY by 22.3% in the second quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider's stock worth $90,952,000 after acquiring an additional 552,082 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on YY shares. JPMorgan Chase & Co. upped their price objective on shares of JOYY from $30.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, September 3rd. Benchmark reaffirmed a "hold" rating on shares of JOYY in a research report on Thursday, August 29th.

JOYY Stock Up 9.0 %

NASDAQ YY traded up $3.51 during trading hours on Monday, hitting $42.36. The company's stock had a trading volume of 614,047 shares, compared to its average volume of 480,550. The stock has a fifty day moving average of $35.21 and a 200 day moving average of $33.67. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $42.76. The firm has a market capitalization of $2.42 billion, a P/E ratio of 12.80 and a beta of 0.26.

About JOYY

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.