Whitefort Capital Management LP Increases Position in JOYY Inc. (NASDAQ:YY)

Whitefort Capital Management LP raised its position in JOYY Inc. (NASDAQ:YY - Free Report) by 168.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 565,878 shares of the information services provider's stock after acquiring an additional 354,932 shares during the period. JOYY comprises approximately 9.4% of Whitefort Capital Management LP's holdings, making the stock its 4th largest holding. Whitefort Capital Management LP owned 0.99% of JOYY worth $20,507,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Athos Capital Ltd increased its stake in JOYY by 9.4% in the third quarter. Athos Capital Ltd now owns 54,900 shares of the information services provider's stock valued at $1,990,000 after acquiring an additional 4,700 shares during the period. Hhlr Advisors LTD. bought 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 lifted its holdings 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 last quarter. FMR LLC grew its stake in JOYY by 4.3% during the third quarter. FMR LLC now owns 678,551 shares of the information services provider's stock worth $24,591,000 after buying an additional 28,126 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of JOYY during the third quarter worth approximately $25,000. Institutional investors own 36.83% of the company's stock.

JOYY Stock Performance

YY traded down $0.17 during mid-day trading on Friday, reaching $40.73. The stock had a trading volume of 263,047 shares, compared to its average volume of 479,962. The stock has a market capitalization of $2.19 billion, a P/E ratio of 11.71 and a beta of 0.27. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $42.76. The firm's fifty day simple moving average is $35.57 and its two-hundred day simple moving average is $33.87.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on YY. JPMorgan Chase & Co. raised 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 reiterated a "hold" rating on shares of JOYY in a research report on Thursday, August 29th.

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.