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

Krane Funds Advisors LLC cut its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,339,536 shares of the information services provider's stock after selling 74,921 shares during the period. JOYY makes up 1.7% of Krane Funds Advisors LLC's holdings, making the stock its 12th biggest holding. Krane Funds Advisors LLC owned approximately 2.35% of JOYY worth $48,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in YY. Canada Pension Plan Investment Board lifted its stake in JOYY by 1,758.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 664,326 shares of the information services provider's stock worth $20,428,000 after acquiring an additional 628,573 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of JOYY by 22.3% in the second quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider's stock valued at $90,952,000 after purchasing an additional 552,082 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in JOYY by 356.3% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 480,000 shares of the information services provider's stock worth $14,443,000 after buying an additional 374,800 shares during the period. Yunqi Capital Ltd increased its stake in JOYY by 52.8% during the 1st quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider's stock worth $24,083,000 after buying an additional 270,564 shares during the period. Finally, LSV Asset Management lifted its holdings in JOYY by 780.9% during the 2nd quarter. LSV Asset Management now owns 232,552 shares of the information services provider's stock worth $6,997,000 after buying an additional 206,152 shares in the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

JOYY Trading Up 3.0 %

YY stock traded up $1.01 during trading on Tuesday, hitting $34.36. 299,444 shares of the company's stock were exchanged, compared to its average volume of 492,578. The business has a 50-day moving average price of $35.14 and a two-hundred day moving average price of $33.34. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 8.34 and a beta of 0.24. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $43.20.

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

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.