JOYY (NASDAQ:YY) Stock Price Down 4.7% – Time to Sell?

JOYY Inc. (NASDAQ:YY)’s stock price traded down 4.7% during mid-day trading on Thursday . The company traded as low as $39.79 and last traded at $39.88. 280,199 shares traded hands during trading, a decline of 44% from the average session volume of 499,252 shares. The stock had previously closed at $41.85.

JOYY Price Performance

The company has a market cap of $2.10 billion, a price-to-earnings ratio of 11.77 and a beta of 0.27. The firm has a 50-day moving average price of $37.82 and a 200 day moving average price of $35.32.

Hedge Funds Weigh In On JOYY

Several institutional investors and hedge funds have recently modified their holdings of YY. Loomis Sayles & Co. L P bought a new stake in JOYY in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC bought a new stake in shares of JOYY in the second quarter valued at approximately $52,000. Northwestern Mutual Wealth Management Co. grew its position in 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 worth $79,000 after buying an additional 300 shares in the last quarter. Blue Trust Inc. increased its stake in JOYY by 182.2% during the 3rd quarter. Blue Trust Inc. now owns 4,510 shares of the information services provider’s stock worth $163,000 after acquiring an additional 2,912 shares during the period. Finally, SG Americas Securities LLC acquired a new position in JOYY in the 3rd quarter valued at $179,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

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.