Handelsbanken Fonder AB lessened its stake in JOYY Inc. (NASDAQ:YY – Free Report) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,800 shares of the information services provider’s stock after selling 1,600 shares during the period. Handelsbanken Fonder AB’s holdings in JOYY were worth $230,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in YY. FMR LLC raised its stake in JOYY by 497,089.5% during the 3rd quarter. FMR LLC now owns 2,709,683 shares of the information services provider’s stock worth $103,266,000 after acquiring an additional 2,709,138 shares during the period. Acadian Asset Management LLC lifted its stake in JOYY by 18.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,721,881 shares of the information services provider’s stock worth $65,590,000 after purchasing an additional 273,875 shares in the last quarter. Krane Funds Advisors LLC increased its holdings in shares of JOYY by 14.3% in the 3rd quarter. Krane Funds Advisors LLC now owns 1,393,184 shares of the information services provider’s stock worth $53,094,000 after buying an additional 174,774 shares during the last quarter. Yunqi Capital Ltd lifted its position in shares of JOYY by 10.8% in the 3rd quarter. Yunqi Capital Ltd now owns 512,638 shares of the information services provider’s stock worth $19,537,000 after purchasing an additional 50,000 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in JOYY by 27.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 420,500 shares of the information services provider’s stock worth $16,025,000 after acquiring an additional 89,500 shares during the period. 36.83% of the stock is currently owned by hedge funds and other institutional investors.
JOYY Price Performance
YY opened at $33.77 on Friday. The business has a fifty day moving average price of $32.32 and a 200 day moving average price of $35.07. JOYY Inc. has a 12 month low of $24.12 and a 12 month high of $43.20. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 6.79 and a beta of 0.35.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on YY shares. Bank of America reaffirmed a “neutral” rating and set a $35.00 price target on shares of JOYY in a research report on Monday, March 25th. StockNews.com upgraded JOYY from a “hold” rating to a “buy” rating in a research report on Friday.
JOYY Profile
JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.
See Also
- Five stocks we like better than JOYY
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Appleās Earnings Show Investors Its Strength and Its Weakness
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
- How to Use the MarketBeat Excel Dividend Calculator
- DraftKings Q1: Strong Customer Acquisition and Product Innovation
Want to see what other hedge funds are holding YY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JOYY Inc. (NASDAQ:YY – Free Report).
Receive News & Ratings for JOYY Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JOYY and related companies with MarketBeat.com's FREE daily email newsletter.