JOYY Inc. $YY Holdings Cut by Prudential PLC

Prudential PLC reduced its stake in JOYY Inc. (NASDAQ:YY) by 73.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 278,477 shares of the information services provider’s stock after selling 755,772 shares during the period. Prudential PLC’s holdings in JOYY were worth $11,871,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in YY. Aberdeen Group plc boosted its position in JOYY by 2.9% during the 2nd quarter. Aberdeen Group plc now owns 13,535 shares of the information services provider’s stock valued at $562,000 after purchasing an additional 376 shares during the period. Farther Finance Advisors LLC lifted its stake in JOYY by 5,718.2% in the second quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider’s stock valued at $27,000 after buying an additional 629 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of JOYY by 7.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,383 shares of the information services provider’s stock valued at $436,000 after acquiring an additional 727 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of JOYY by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 128,826 shares of the information services provider’s stock worth $5,353,000 after acquiring an additional 1,115 shares during the last quarter. Finally, D Orazio & Associates Inc. increased its holdings in shares of JOYY by 22.0% in the 2nd quarter. D Orazio & Associates Inc. now owns 6,842 shares of the information services provider’s stock worth $284,000 after acquiring an additional 1,233 shares during the period. 36.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Citigroup reissued a “buy” rating on shares of JOYY in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, JOYY has an average rating of “Buy”.

JOYY Price Performance

JOYY stock opened at $59.95 on Friday. JOYY Inc. has a 12-month low of $30.91 and a 12-month high of $55.31. The stock has a market capitalization of $3.23 billion, a PE ratio of 18.11 and a beta of 0.21. The firm has a 50 day simple moving average of $59.48 and a 200-day simple moving average of $53.43.

About JOYY

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.