5,755 Shares in JOYY Inc. (NASDAQ:YY) Bought by Creative Planning

Creative Planning purchased a new stake in JOYY Inc. (NASDAQ:YY) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,755 shares of the information services provider’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jupiter Asset Management Ltd. purchased a new stake in JOYY during the first quarter worth approximately $3,235,000. Canada Pension Plan Investment Board boosted its holdings in shares of JOYY by 10.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider’s stock valued at $21,990,000 after buying an additional 66,474 shares in the last quarter. Krane Funds Advisors LLC grew its position in shares of JOYY by 10.5% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock valued at $42,561,000 after buying an additional 134,394 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in JOYY during the 1st quarter worth $2,511,000. Finally, Point72 Hong Kong Ltd raised its stake in JOYY by 22.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider’s stock worth $90,952,000 after acquiring an additional 552,082 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Trading Down 0.9 %

JOYY stock opened at $34.04 on Monday. The stock has a 50 day moving average of $34.96 and a two-hundred day moving average of $33.41. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $43.20. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 8.26 and a beta of 0.25.

JOYY (NASDAQ:YY) last released its earnings results on Tuesday, August 27th. The information services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.81 by $0.27. The company had revenue of $565.13 million during the quarter, compared to analysts’ expectations of $556.82 million. JOYY had a net margin of 9.53% and a return on equity of 4.98%. Equities analysts predict that JOYY Inc. will post 3.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About JOYY

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.