Wellington Management Group LLP Has $632,000 Stake in JOYY Inc. (NASDAQ:YY)

Wellington Management Group LLP cut its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 80.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,441 shares of the information services provider's stock after selling 73,923 shares during the period. Wellington Management Group LLP's holdings in JOYY were worth $632,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Point72 Hong Kong Ltd grew its position in 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 acquiring an additional 552,082 shares during the last quarter. Krane Funds Advisors LLC boosted its stake in shares of JOYY by 10.5% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider's stock valued at $42,561,000 after purchasing an additional 134,394 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of JOYY by 10.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider's stock valued at $21,990,000 after purchasing an additional 66,474 shares during the last quarter. FMR LLC increased its position in JOYY by 4.3% during the 3rd quarter. FMR LLC now owns 678,551 shares of the information services provider's stock worth $24,591,000 after purchasing an additional 28,126 shares in the last quarter. Finally, Whitefort Capital Management LP lifted its stake in JOYY by 168.3% in the 3rd 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. 36.83% of the stock is currently owned by institutional investors.

JOYY Trading Up 10.5 %

YY traded up $3.89 during trading on Friday, reaching $40.78. 1,513,423 shares of the company's stock were exchanged, compared to its average volume of 499,307. JOYY Inc. has a one year low of $27.88 and a one year high of $42.76. The firm has a fifty day moving average price of $36.39 and a two-hundred day moving average price of $34.46. The stock has a market capitalization of $2.20 billion, a PE ratio of 12.32 and a beta of 0.27.

Wall Street Analyst Weigh In

YY has been the topic of a number of research reports. Benchmark reaffirmed a "hold" rating on shares of JOYY in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their target price on JOYY from $30.00 to $35.00 and gave the stock 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.