Handelsbanken Fonder AB Trims Stake in JOYY Inc. (NASDAQ:YY)

Handelsbanken Fonder AB decreased its position in JOYY Inc. (NASDAQ:YY) by 21.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,800 shares of the information services provider’s stock after selling 1,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in JOYY were worth $230,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. FMR LLC grew its stake in shares of JOYY by 497,089.5% in the third quarter. FMR LLC now owns 2,709,683 shares of the information services provider’s stock worth $103,266,000 after acquiring an additional 2,709,138 shares during the last quarter. Acadian Asset Management LLC increased its stake in JOYY by 18.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,721,881 shares of the information services provider’s stock valued at $65,590,000 after purchasing an additional 273,875 shares in the last quarter. Krane Funds Advisors LLC raised its holdings in JOYY by 14.3% in the third quarter. Krane Funds Advisors LLC now owns 1,393,184 shares of the information services provider’s stock worth $53,094,000 after buying an additional 174,774 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of JOYY in the fourth quarter worth approximately $4,466,000. Finally, Polunin Capital Partners Ltd purchased a new stake in shares of JOYY during the fourth quarter valued at approximately $4,399,000. 36.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on YY. Bank of America reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of JOYY in a research report on Monday, March 25th. StockNews.com upgraded JOYY from a “hold” rating to a “buy” rating in a research note on Friday.

JOYY Trading Down 0.1 %

Shares of NASDAQ YY opened at $33.77 on Friday. JOYY Inc. has a 12-month low of $24.12 and a 12-month high of $43.20. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 6.79 and a beta of 0.35. The firm has a 50 day moving average of $32.32 and a 200 day moving average of $35.07.

JOYY (NASDAQ:YY) last posted its quarterly earnings data on Monday, March 18th. The information services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $569.84 million during the quarter, compared to analyst estimates of $572.51 million. JOYY had a return on equity of 5.13% and a net margin of 13.31%. During the same period in the prior year, the business posted $0.49 EPS. Sell-side analysts predict that JOYY Inc. will post 3.57 EPS for the current 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.