8,318 Shares in JOYY Inc. (NASDAQ:YY) Acquired by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. purchased a new position in JOYY Inc. (NASDAQ:YY) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,318 shares of the information services provider’s stock, valued at approximately $301,000. JOYY accounts for about 0.2% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlas Capital Advisors LLC acquired a new stake in shares of JOYY in the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC acquired a new stake in shares of JOYY in the 2nd quarter worth approximately $52,000. Blue Trust Inc. grew its holdings in shares of JOYY by 22,728.6% in the 2nd quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock worth $49,000 after acquiring an additional 1,591 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in JOYY by 12.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock valued at $79,000 after buying an additional 300 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in JOYY by 967.6% during the 1st quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider’s stock valued at $120,000 after buying an additional 3,551 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

Analyst Ratings Changes

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

JOYY Stock Performance

Shares of NASDAQ:YY opened at $33.82 on Thursday. JOYY Inc. has a one year low of $27.88 and a one year high of $43.20. The stock has a market cap of $2.01 billion, a PE ratio of 6.37 and a beta of 0.24. The business’s fifty day moving average price is $35.01 and its two-hundred day moving average price is $33.34.

JOYY (NASDAQ:YY) last issued its quarterly earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share 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 company had revenue of $565.13 million for the quarter, compared to analyst estimates of $556.82 million. As a group, equities research analysts predict that JOYY Inc. will post 3.4 earnings per share for the current fiscal year.

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.