Point72 Hong Kong Ltd Decreases Holdings in JOYY Inc. (NASDAQ:YY)

Point72 Hong Kong Ltd lessened its stake in shares of JOYY Inc. (NASDAQ:YY) by 40.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,812,286 shares of the information services provider’s stock after selling 1,210,379 shares during the period. JOYY accounts for about 4.5% of Point72 Hong Kong Ltd’s investment portfolio, making the stock its 3rd biggest holding. Point72 Hong Kong Ltd’s holdings in JOYY were worth $65,677,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Loomis Sayles & Co. L P purchased a new stake in shares of JOYY in the third quarter worth $25,000. Atlas Capital Advisors LLC purchased a new stake in JOYY in the 2nd quarter worth $29,000. Blue Trust Inc. raised its holdings in JOYY by 22,728.6% during the second quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 1,591 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of JOYY in the second quarter valued at about $52,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of JOYY by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock worth $79,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Analysts Set New Price Targets

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

JOYY Stock Up 0.4 %

YY opened at $38.85 on Friday. The company has a market capitalization of $2.22 billion, a PE ratio of 11.74 and a beta of 0.25. The firm has a 50-day simple moving average of $35.21 and a two-hundred day simple moving average of $33.68. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $40.98.

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.