JOYY (NASDAQ:YY) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of JOYY (NASDAQ:YY) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the information services provider’s stock.

Separately, Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

JOYY Stock Up 3.5 %

YY opened at $41.71 on Thursday. The firm has a 50-day moving average price of $44.85 and a 200-day moving average price of $40.66. JOYY has a twelve month low of $27.88 and a twelve month high of $55.31. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 12.60 and a beta of 0.21.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of JOYY by 35.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 30,436 shares of the information services provider’s stock worth $1,103,000 after purchasing an additional 8,019 shares in the last quarter. Geode Capital Management LLC grew its stake in JOYY by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider’s stock worth $2,615,000 after buying an additional 877 shares in the last quarter. Barclays PLC increased its holdings in shares of JOYY by 1.3% in the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider’s stock worth $744,000 after buying an additional 270 shares during the last quarter. Aprio Wealth Management LLC bought a new position in shares of JOYY in the 4th quarter worth $202,000. Finally, Ritholtz Wealth Management raised its position in shares of JOYY by 69.1% during the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock valued at $1,550,000 after buying an additional 15,127 shares in the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

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.