SG Americas Securities LLC Invests $179,000 in JOYY Inc. (NASDAQ:YY)

SG Americas Securities LLC purchased a new stake in shares of JOYY Inc. (NASDAQ:YY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,953 shares of the information services provider’s stock, valued at approximately $179,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of YY. Point72 Hong Kong Ltd boosted its position in JOYY by 22.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider’s stock valued at $90,952,000 after acquiring an additional 552,082 shares in the last quarter. Krane Funds Advisors LLC raised its position in shares of JOYY by 10.5% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock worth $42,561,000 after purchasing an additional 134,394 shares during the last quarter. Yunqi Capital Ltd boosted its stake in JOYY by 52.8% in the 1st quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider’s stock worth $24,083,000 after purchasing an additional 270,564 shares in the last quarter. Canada Pension Plan Investment Board grew its position in JOYY by 10.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider’s stock valued at $21,990,000 after purchasing an additional 66,474 shares during the last quarter. Finally, Jupiter Asset Management Ltd. increased its position in shares of JOYY by 356.3% during the second quarter. Jupiter Asset Management Ltd. now owns 480,000 shares of the information services provider’s stock valued at $14,443,000 after acquiring an additional 374,800 shares in the last quarter. Institutional investors own 36.83% of the company’s stock.

JOYY Stock Performance

YY opened at $33.65 on Thursday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 8.17 and a beta of 0.24. The company has a fifty day moving average of $35.10 and a 200 day moving average of $33.34. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $43.20.

JOYY (NASDAQ:YY) last announced its quarterly earnings results on Tuesday, August 27th. The information services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.27. JOYY had a net margin of 9.53% and a return on equity of 4.98%. The firm had revenue of $565.13 million during the quarter, compared to the consensus estimate of $556.82 million. On average, equities research analysts forecast that JOYY Inc. will post 3.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on YY. Benchmark reiterated a “hold” rating on shares of JOYY in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on JOYY from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd.

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.