JOYY Inc. (NASDAQ:YY) Position Trimmed by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in JOYY Inc. (NASDAQ:YYFree Report) by 6.3% in the third quarter, Holdings Channel.com reports. The firm owned 9,651 shares of the information services provider’s stock after selling 653 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in JOYY were worth $350,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Headlands Technologies LLC boosted its position in JOYY by 967.6% during the first quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider’s stock valued at $120,000 after purchasing an additional 3,551 shares during the last quarter. Yunqi Capital Ltd lifted its holdings in shares of JOYY by 52.8% during the 1st quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider’s stock valued at $24,083,000 after buying an additional 270,564 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of JOYY during the 1st quarter valued at about $3,235,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in JOYY by 9.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 56,365 shares of the information services provider’s stock worth $1,796,000 after buying an additional 4,842 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in JOYY by 1,758.1% in the first quarter. Canada Pension Plan Investment Board now owns 664,326 shares of the information services provider’s stock worth $20,428,000 after buying an additional 628,573 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Read Our Latest Report on YY

JOYY Trading Up 6.2 %

Shares of JOYY stock opened at $35.81 on Thursday. The firm has a fifty day simple moving average of $34.94 and a 200-day simple moving average of $33.41. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 8.69 and a beta of 0.25. JOYY Inc. has a 1-year low of $27.88 and a 1-year high of $43.20.

JOYY (NASDAQ:YYGet Free Report) last released its 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 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 analyst estimates of $556.82 million. As a group, research analysts predict that JOYY Inc. will post 3.4 earnings per share for the current year.

JOYY Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for JOYY (NASDAQ:YY)

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