Public Employees Retirement System of Ohio Makes New $4.38 Million Investment in JOYY Inc. (NASDAQ:YY)

Public Employees Retirement System of Ohio bought a new position in JOYY Inc. (NASDAQ:YY - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 120,945 shares of the information services provider's stock, valued at approximately $4,383,000. Public Employees Retirement System of Ohio owned about 0.21% of JOYY as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whitefort Capital Management LP lifted its stake in JOYY by 168.3% in 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 purchasing an additional 354,932 shares during the last quarter. Athos Capital Ltd increased its holdings in shares of JOYY by 9.4% in the third quarter. Athos Capital Ltd now owns 54,900 shares of the information services provider's stock worth $1,990,000 after purchasing an additional 4,700 shares during the period. Hhlr Advisors LTD. bought a new position in JOYY in the third quarter valued at $1,087,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in JOYY by 35.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,436 shares of the information services provider's stock valued at $1,103,000 after acquiring an additional 8,019 shares during the last quarter. Finally, FMR LLC increased its stake in JOYY by 4.3% in the third quarter. FMR LLC now owns 678,551 shares of the information services provider's stock valued at $24,591,000 after acquiring an additional 28,126 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Trading Down 1.5 %

Shares of NASDAQ:YY traded down $0.60 on Friday, reaching $39.81. 632,103 shares of the company traded hands, compared to its average volume of 401,823. The business's 50-day simple moving average is $36.07 and its 200 day simple moving average is $34.20. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $42.76. The stock has a market capitalization of $2.14 billion, a P/E ratio of 12.03 and a beta of 0.27.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Benchmark reissued a "hold" rating on shares of JOYY in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on JOYY from $30.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, September 3rd.

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.