Krane Funds Advisors LLC Lowers Stock Holdings in JOYY Inc. (NASDAQ:YY)

Krane Funds Advisors LLC reduced its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 96.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,545 shares of the information services provider's stock after selling 1,365,912 shares during the period. JOYY makes up about 1.5% of Krane Funds Advisors LLC's holdings, making the stock its 13th largest holding. Krane Funds Advisors LLC owned 0.08% of JOYY worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Atlas Capital Advisors LLC purchased a new stake in shares of JOYY in the second quarter worth $29,000. Blue Trust Inc. boosted its position in shares of 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 acquiring an additional 1,591 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of JOYY during the second quarter worth about $52,000. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 worth $79,000 after purchasing an additional 300 shares during the last quarter. Finally, Headlands Technologies LLC raised its stake in JOYY by 967.6% in the first quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider's stock valued at $120,000 after purchasing an additional 3,551 shares in the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Price Performance

JOYY stock traded up $0.63 during mid-day trading on Friday, hitting $33.70. The company's stock had a trading volume of 202,850 shares, compared to its average volume of 493,728. The business has a 50 day moving average price of $35.18 and a 200-day moving average price of $33.33. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $43.20. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 6.36 and a beta of 0.24.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on YY shares. JPMorgan Chase & Co. increased their price target on shares of JOYY from $30.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, September 3rd. Benchmark reaffirmed a "hold" rating on shares of JOYY in a research note on Thursday, August 29th.

JOYY 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.