JOYY (NASDAQ:YY) Sets New 1-Year High - Here's What Happened

JOYY Inc. (NASDAQ:YY - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $48.38 and last traded at $47.58, with a volume of 57497 shares traded. The stock had previously closed at $46.59.

JOYY Trading Up 5.4 %

The stock's 50-day moving average price is $42.15 and its 200-day moving average price is $37.76. The company has a market capitalization of $2.67 billion, a P/E ratio of 15.01 and a beta of 0.28.

JOYY (NASDAQ:YY - Get Free Report) last released its quarterly earnings data on Tuesday, November 26th. The information services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.22. JOYY had a net margin of 9.02% and a return on equity of 4.64%. Sell-side analysts expect that JOYY Inc. will post 3.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JOYY

A number of hedge funds have recently added to or reduced their stakes in the stock. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in shares of JOYY in the 4th quarter worth about $57,840,000. Yunqi Capital Ltd grew its position in JOYY by 102.3% in the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider's stock worth $71,605,000 after purchasing an additional 865,285 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of JOYY in the fourth quarter valued at approximately $15,448,000. Whitefort Capital Management LP raised 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 buying an additional 354,932 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of JOYY by 1,793.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider's stock worth $12,737,000 after buying an additional 288,285 shares during the period. 36.83% of the stock is currently owned by 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.