Nan Fung Trinity HK Ltd. Purchases Shares of 277,700 JOYY Inc. $YY

Nan Fung Trinity HK Ltd. acquired a new stake in shares of JOYY Inc. (NASDAQ:YY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 277,700 shares of the information services provider’s stock, valued at approximately $11,538,000. JOYY accounts for approximately 1.4% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 29th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in JOYY by 5,718.2% during the second quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider’s stock worth $27,000 after acquiring an additional 629 shares during the last quarter. SVB Wealth LLC acquired a new stake in JOYY during the 1st quarter worth approximately $57,000. Leading Securities Co Ltd acquired a new position in JOYY during the second quarter valued at approximately $71,000. Campbell & CO Investment Adviser LLC purchased a new stake in JOYY during the second quarter worth approximately $235,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of JOYY in the second quarter worth $262,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup restated a “buy” rating on shares of JOYY in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

JOYY Price Performance

JOYY stock opened at $60.94 on Wednesday. JOYY Inc. has a 12-month low of $30.91 and a 12-month high of $55.31. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 18.41 and a beta of 0.21. The firm’s fifty day moving average price is $59.83 and its 200 day moving average price is $52.70.

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.