StockNews.com downgraded shares of JOYY (NASDAQ:YY - Free Report) from a buy rating to a hold rating in a report released on Thursday morning.
Separately, Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a research report on Tuesday, February 25th.
View Our Latest Stock Analysis on YY
JOYY Stock Performance
Shares of JOYY stock traded down $1.47 during trading hours on Thursday, hitting $48.84. The company's stock had a trading volume of 471,347 shares, compared to its average volume of 526,340. The business has a 50 day moving average price of $44.62 and a two-hundred day moving average price of $39.17. JOYY has a 12-month low of $27.88 and a 12-month high of $55.31. The company has a market cap of $2.63 billion, a PE ratio of 14.76 and a beta of 0.21.
Institutional Investors Weigh In On JOYY
A number of hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in shares of JOYY in the fourth quarter worth about $1,980,000. Public Employees Retirement System of Ohio lifted its position in shares of JOYY by 3.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 125,487 shares of the information services provider's stock worth $5,252,000 after buying an additional 4,542 shares in the last quarter. Vise Technologies Inc. purchased a new stake in shares of JOYY in the fourth quarter worth about $284,000. Tiger Pacific Capital LP lifted its position in shares of JOYY by 23.1% in the fourth quarter. Tiger Pacific Capital LP now owns 680,676 shares of the information services provider's stock worth $28,486,000 after buying an additional 127,829 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of JOYY in the fourth quarter worth about $85,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.
About JOYY
(
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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.
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