Polunin Capital Partners Ltd Reduces Stock Position in JOYY Inc. (NASDAQ:YY)

Polunin Capital Partners Ltd decreased its stake in shares of JOYY Inc. (NASDAQ:YY) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,800 shares of the information services provider’s stock after selling 4,400 shares during the quarter. JOYY makes up 1.3% of Polunin Capital Partners Ltd’s portfolio, making the stock its 12th largest position. Polunin Capital Partners Ltd owned 0.29% of JOYY worth $5,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in YY. Northwestern Mutual Wealth Management Co. boosted its stake in shares of JOYY by 12.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock valued at $79,000 after purchasing an additional 300 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of JOYY during the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC purchased a new position in JOYY in the second quarter valued at about $52,000. Blue Trust Inc. grew its stake in JOYY by 22,728.6% in the second quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 1,591 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its holdings in JOYY by 2.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 83,464 shares of the information services provider’s stock worth $2,511,000 after purchasing an additional 1,810 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on YY shares. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd.

JOYY Price Performance

NASDAQ:YY traded up $0.33 during midday trading on Friday, hitting $34.12. The company’s stock had a trading volume of 286,576 shares, compared to its average volume of 489,954. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $43.20. The firm has a market cap of $2.02 billion, a P/E ratio of 6.43 and a beta of 0.24. The firm’s 50 day moving average is $35.06 and its 200-day moving average is $33.34.

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

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.