JOYY (NASDAQ:YY) Shares Down 3.3% - What's Next?

JOYY Inc. (NASDAQ:YY - Get Free Report) shares traded down 3.3% during mid-day trading on Friday . The stock traded as low as $34.75 and last traded at $34.85. 141,123 shares were traded during trading, a decline of 70% from the average session volume of 478,364 shares. The stock had previously closed at $36.03.

Wall Street Analysts Forecast Growth

YY has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on JOYY from $30.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 3rd. Benchmark reissued a "hold" rating on shares of JOYY in a report on Thursday, August 29th.

JOYY Stock Performance

The company has a market cap of $1.94 billion, a price-to-earnings ratio of 8.75 and a beta of 0.25. The company has a fifty day moving average of $35.08 and a two-hundred day moving average of $33.56.

JOYY (NASDAQ:YY - Get Free Report) last announced its earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.27. The firm had revenue of $565.13 million for the quarter, compared to the consensus estimate of $556.82 million. JOYY had a return on equity of 4.98% and a net margin of 9.53%. Equities analysts expect that JOYY Inc. will post 3.4 EPS for the current fiscal year.

Hedge Funds Weigh In On JOYY

A number of institutional investors and hedge funds have recently made changes to their positions in YY. Loomis Sayles & Co. L P bought a new stake in JOYY in the 3rd quarter valued at $25,000. Atlas Capital Advisors LLC purchased a new stake in JOYY during the second quarter valued at approximately $29,000. Blue Trust Inc. increased its stake in JOYY by 22,728.6% during the 2nd quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider's stock valued at $49,000 after purchasing an additional 1,591 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of JOYY in the second quarter worth $52,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in 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 buying an additional 300 shares in the last quarter. Institutional investors own 36.83% of the company's stock.

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.

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