JOYY (NASDAQ:YY) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of JOYY (NASDAQ:YY) in a research note issued on Monday. The firm set a “hold” rating on the information services provider’s stock.

Separately, Benchmark upgraded shares of JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th.

JOYY Price Performance

JOYY stock opened at $42.53 on Monday. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 12.85 and a beta of 0.21. JOYY has a 12 month low of $27.88 and a 12 month high of $55.31. The stock’s 50-day moving average is $41.68 and its 200-day moving average is $41.84.

Institutional Trading of JOYY

Several large investors have recently bought and sold shares of the company. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in JOYY during the 4th quarter valued at approximately $57,840,000. Prudential PLC purchased a new position in shares of JOYY during the 1st quarter valued at approximately $44,090,000. BRIGHT VALLEY CAPITAL Ltd boosted its stake in shares of JOYY by 249.2% during the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider’s stock valued at $55,113,000 after buying an additional 936,841 shares during the last quarter. Yunqi Capital Ltd grew its position in shares of JOYY by 102.3% during the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock worth $71,605,000 after buying an additional 865,285 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of JOYY by 4,414.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider’s stock worth $18,111,000 after buying an additional 426,222 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

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.