Jane Street Group LLC Sells 416,786 Shares of JOYY Inc. (NASDAQ:YY)

Jane Street Group LLC reduced its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 77.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,260 shares of the information services provider's stock after selling 416,786 shares during the period. Jane Street Group LLC owned 0.22% of JOYY worth $4,503,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in YY. Whitefort Capital Management LP boosted its holdings in shares of JOYY by 168.3% during the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider's stock valued at $20,507,000 after acquiring an additional 354,932 shares during the period. Athos Capital Ltd lifted its position in JOYY by 9.4% in the 3rd quarter. Athos Capital Ltd now owns 54,900 shares of the information services provider's stock valued at $1,990,000 after purchasing an additional 4,700 shares during the last quarter. Hhlr Advisors LTD. acquired a new position in JOYY during the 3rd quarter valued at about $1,087,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in JOYY by 35.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,436 shares of the information services provider's stock valued at $1,103,000 after purchasing an additional 8,019 shares during the period. Finally, FMR LLC grew its position in JOYY by 4.3% in the 3rd quarter. FMR LLC now owns 678,551 shares of the information services provider's stock worth $24,591,000 after purchasing an additional 28,126 shares during the last quarter. 36.83% of the stock is owned by institutional investors.

JOYY Stock Down 5.4 %

Shares of YY traded down $2.13 during trading hours on Wednesday, reaching $37.05. The company's stock had a trading volume of 3,192,740 shares, compared to its average volume of 493,591. The company has a 50 day moving average of $36.27 and a two-hundred day moving average of $34.36. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 11.19 and a beta of 0.27. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $42.76.

Wall Street Analyst Weigh In

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

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.