Charles Schwab Investment Management Inc. Acquires 31,341 Shares of JOYY Inc. (NASDAQ:YY)

Charles Schwab Investment Management Inc. grew its position in JOYY Inc. (NASDAQ:YY - Free Report) by 45.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,748 shares of the information services provider's stock after buying an additional 31,341 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.17% of JOYY worth $3,615,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

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

JOYY Stock Down 1.5 %

YY traded down $0.60 during trading on Friday, reaching $39.81. 632,103 shares of the company's stock were exchanged, compared to its average volume of 401,823. The company has a market capitalization of $2.14 billion, a P/E ratio of 12.03 and a beta of 0.27. The business has a 50 day moving average price of $36.07 and a 200 day moving average price of $34.20. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $42.76.

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.