Allianz Asset Management GmbH Acquires 74,093 Shares of JOYY Inc. $YY

Allianz Asset Management GmbH lifted its holdings in JOYY Inc. (NASDAQ:YY) by 75.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,238 shares of the information services provider’s stock after buying an additional 74,093 shares during the quarter. Allianz Asset Management GmbH owned about 0.32% of JOYY worth $7,156,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of 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. SVB Wealth LLC bought a new position in shares of JOYY in the first quarter valued at about $57,000. Leading Securities Co Ltd bought a new position in shares of JOYY in the second quarter valued at about $71,000. Kathmere Capital Management LLC bought a new position in shares of JOYY in the first quarter valued at about $217,000. Finally, Asset Management One Co. Ltd. bought a new position in shares of JOYY in the first quarter valued at about $253,000. 36.83% of the stock is owned by institutional investors.

JOYY Trading Up 0.3%

JOYY stock opened at $59.21 on Thursday. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The company has a market cap of $3.19 billion, a PE ratio of 17.89 and a beta of 0.21. The company’s 50-day moving average is $57.53 and its two-hundred day moving average is $50.47.

Analyst Ratings Changes

Separately, Citigroup reaffirmed a “buy” rating on shares of JOYY in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy”.

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.