JOYY (NASDAQ:YY) Hits New 12-Month High – Here’s What Happened

JOYY Inc. (NASDAQ:YY) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $42.93 and last traded at $42.82, with a volume of 45190 shares changing hands. The stock had previously closed at $41.67.

JOYY Stock Performance

The stock has a market capitalization of $2.31 billion, a PE ratio of 12.97 and a beta of 0.27. The business has a 50 day moving average of $38.79 and a two-hundred day moving average of $35.94.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd increased its holdings in shares of 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 purchasing an additional 552,082 shares during the period. Canada Pension Plan Investment Board grew its holdings in JOYY by 10.0% during the second quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider’s stock worth $21,990,000 after acquiring an additional 66,474 shares during the period. FMR LLC grew its holdings in JOYY by 4.3% during the third quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock worth $24,591,000 after acquiring an additional 28,126 shares during the period. Whitefort Capital Management LP grew its holdings in JOYY by 168.3% during the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock worth $20,507,000 after acquiring an additional 354,932 shares during the period. Finally, Cape Ann Asset Management Ltd grew its holdings in JOYY by 47.8% during the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock worth $17,283,000 after acquiring an additional 154,200 shares during the period. 36.83% of the stock is owned by institutional investors and hedge funds.

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.