DekaBank Deutsche Girozentrale Acquires 325 Shares of JOYY Inc. (NASDAQ:YY)

DekaBank Deutsche Girozentrale boosted its holdings in JOYY Inc. (NASDAQ:YY) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,057 shares of the information services provider’s stock after purchasing an additional 325 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in JOYY were worth $196,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Penserra Capital Management LLC bought a new position in JOYY in the 3rd quarter worth about $406,000. New York State Common Retirement Fund lifted its stake in shares of JOYY by 29.3% in the third quarter. New York State Common Retirement Fund now owns 108,343 shares of the information services provider’s stock worth $4,129,000 after buying an additional 24,537 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of JOYY by 67,358.5% during the third quarter. Canada Pension Plan Investment Board now owns 35,753 shares of the information services provider’s stock valued at $1,363,000 after buying an additional 35,700 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of JOYY by 18.9% during the third quarter. Acadian Asset Management LLC now owns 1,721,881 shares of the information services provider’s stock valued at $65,590,000 after buying an additional 273,875 shares during the last quarter. Finally, FMR LLC increased its position in shares of JOYY by 497,089.5% during the third quarter. FMR LLC now owns 2,709,683 shares of the information services provider’s stock valued at $103,266,000 after acquiring an additional 2,709,138 shares in the last quarter. Institutional investors own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research report on Tuesday, January 2nd. StockNews.com downgraded shares of JOYY from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $35.00 target price on shares of JOYY in a research report on Monday, March 25th.

JOYY Stock Performance

Shares of NASDAQ:YY opened at $31.81 on Wednesday. The stock’s 50-day simple moving average is $32.30 and its two-hundred day simple moving average is $35.64. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 6.40 and a beta of 0.38. JOYY Inc. has a 52-week low of $24.12 and a 52-week high of $43.20.

JOYY (NASDAQ:YY) last posted its quarterly earnings data on Monday, March 18th. The information services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. JOYY had a net margin of 13.31% and a return on equity of 5.13%. The company had revenue of $569.84 million for the quarter, compared to the consensus estimate of $572.51 million. During the same quarter last year, the firm posted $0.49 earnings per share. As a group, equities analysts forecast that JOYY Inc. will post 3.57 earnings per share for the current fiscal year.

JOYY Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.