JOYY (NASDAQ:YY) Trading Up 8.1% – Here’s Why

JOYY Inc. (NASDAQ:YY) traded up 8.1% during trading on Tuesday . The stock traded as high as $51.19 and last traded at $50.97. 450,510 shares changed hands during trading, an increase of 25% from the average session volume of 361,575 shares. The stock had previously closed at $47.15.

JOYY Stock Performance

The stock has a market cap of $2.69 billion, a PE ratio of 15.10 and a beta of 0.28. The company’s 50-day moving average price is $42.68 and its 200 day moving average price is $38.03.

JOYY (NASDAQ:YY) last released its quarterly earnings results on Tuesday, November 26th. The information services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.79 by $0.22. JOYY had a net margin of 9.02% and a return on equity of 4.64%. On average, sell-side analysts anticipate that JOYY Inc. will post 3.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JOYY

Hedge funds and other institutional investors have recently made changes to their positions in the business. Loomis Sayles & Co. L P purchased a new stake in JOYY in the 3rd quarter worth approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in JOYY in the 4th quarter worth approximately $25,000. Global Retirement Partners LLC increased its holdings in JOYY by 71.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock worth $45,000 after acquiring an additional 447 shares in the last quarter. Rhumbline Advisers increased its holdings in JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after acquiring an additional 510 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in JOYY in the 4th quarter worth approximately $85,000. Hedge funds and other institutional investors 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.