JOYY Inc. (NASDAQ:YY) Stake Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 18.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,436 shares of the information services provider's stock after selling 22,689 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.18% of JOYY worth $3,748,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atlas Capital Advisors LLC purchased a new stake in shares of JOYY during the second quarter worth about $29,000. EverSource Wealth Advisors LLC acquired a new position in JOYY in the 2nd quarter valued at $52,000. Blue Trust Inc. lifted its stake 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 worth $49,000 after purchasing an additional 1,591 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of JOYY by 12.9% during 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, SG Americas Securities LLC acquired a new stake in shares of JOYY during the third quarter worth $179,000. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Price Performance

YY traded up $0.24 on Tuesday, reaching $34.99. The company's stock had a trading volume of 201,458 shares, compared to its average volume of 478,621. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $41.40. The business's 50 day moving average is $35.01 and its 200 day moving average is $33.57. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 8.54 and a beta of 0.25.

JOYY (NASDAQ:YY - Get Free Report) last announced 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. The company had revenue of $565.13 million during the quarter, compared to analyst estimates of $556.82 million. JOYY had a net margin of 9.53% and a return on equity of 4.98%. As a group, research analysts forecast that JOYY Inc. will post 3.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.