New York State Common Retirement Fund Grows Holdings in JOYY Inc. (NASDAQ:YY)

New York State Common Retirement Fund increased its position in shares of JOYY Inc. (NASDAQ:YY) by 5.1% during the 4th quarter, Holdings Channel reports. The firm owned 113,893 shares of the information services provider’s stock after purchasing an additional 5,550 shares during the quarter. New York State Common Retirement Fund’s holdings in JOYY were worth $4,522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in JOYY by 221.8% in the fourth quarter. Blue Trust Inc. now owns 943 shares of the information services provider’s stock valued at $36,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. boosted its stake in JOYY by 62.2% in the third quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock valued at $85,000 after acquiring an additional 854 shares during the last quarter. Signaturefd LLC boosted its stake in JOYY by 14.7% in the third quarter. Signaturefd LLC now owns 4,020 shares of the information services provider’s stock valued at $153,000 after acquiring an additional 514 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in JOYY by 115.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,732 shares of the information services provider’s stock valued at $179,000 after acquiring an additional 2,534 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its stake in JOYY by 825.0% in the third quarter. Employees Retirement System of Texas now owns 5,587 shares of the information services provider’s stock valued at $213,000 after acquiring an additional 4,983 shares during the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Stock Down 0.1 %

NASDAQ YY opened at $33.77 on Friday. The company’s 50 day moving average is $32.32 and its 200-day moving average is $35.04. JOYY Inc. has a 12-month low of $24.12 and a 12-month high of $43.20. The firm has a market cap of $2.09 billion, a P/E ratio of 6.79 and a beta of 0.35.

JOYY (NASDAQ:YY) last posted its quarterly earnings results on Monday, March 18th. The information services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $572.51 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Equities analysts expect that JOYY Inc. will post 3.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of JOYY from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America reiterated a “neutral” rating and issued a $35.00 target price on shares of JOYY in a research note on Monday, March 25th.

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. 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.