StockNews.com Initiates Coverage on JOYY (NASDAQ:YY)

Analysts at StockNews.com began coverage on shares of JOYY (NASDAQ:YY - Get Free Report) in a report issued on Wednesday. The firm set a "hold" rating on the information services provider's stock.

Separately, Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

JOYY Stock Performance

NASDAQ:YY traded up $0.89 during trading on Wednesday, reaching $39.30. The company's stock had a trading volume of 541,828 shares, compared to its average volume of 474,892. The firm has a 50 day moving average of $45.16 and a 200-day moving average of $40.65. JOYY has a 12 month low of $27.88 and a 12 month high of $55.31. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 11.87 and a beta of 0.21.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in shares of JOYY by 33.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 132,757 shares of the information services provider's stock valued at $5,556,000 after purchasing an additional 33,009 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of JOYY in the fourth quarter worth $501,000. Rhumbline Advisers raised its position in shares of JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock worth $55,000 after purchasing an additional 510 shares during the last quarter. Ritholtz Wealth Management boosted its stake in JOYY by 69.1% in the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider's stock worth $1,550,000 after purchasing an additional 15,127 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of JOYY in the third quarter worth approximately $4,383,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

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.