JOYY (NASDAQ:YY) Stock Price Down 4.7% - Here's Why

JOYY Inc. (NASDAQ:YY - Get Free Report)'s share price was down 4.7% on Thursday . The company traded as low as $39.79 and last traded at $39.88. Approximately 280,199 shares changed hands during trading, a decline of 44% from the average daily volume of 499,252 shares. The stock had previously closed at $41.85.

JOYY Stock Down 4.9 %

The firm has a market capitalization of $2.14 billion, a PE ratio of 12.02 and a beta of 0.27. The company's 50-day simple moving average is $37.73 and its 200 day simple moving average is $35.24.

Institutional Trading of JOYY

Several large investors have recently bought and sold shares of YY. Barclays PLC raised its stake in shares of JOYY by 1.3% during the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider's stock valued at $744,000 after buying an additional 270 shares during the last quarter. Geode Capital Management LLC increased its position in shares of JOYY by 1.2% during the third quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider's stock worth $2,615,000 after purchasing an additional 877 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of JOYY in the third quarter worth about $4,383,000. Whitefort Capital Management LP boosted its holdings in shares of JOYY by 168.3% during the 3rd quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider's stock worth $20,507,000 after purchasing an additional 354,932 shares during the last quarter. Finally, Athos Capital Ltd grew its holdings in JOYY by 9.4% in the 3rd quarter. Athos Capital Ltd now owns 54,900 shares of the information services provider's stock valued at $1,990,000 after buying an additional 4,700 shares in the last quarter. Hedge funds and other 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.