Invesco Ltd. Buys 62,914 Shares of JOYY Inc. $YY

Invesco Ltd. grew its stake in shares of JOYY Inc. (NASDAQ:YY) by 43.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,654 shares of the information services provider’s stock after buying an additional 62,914 shares during the quarter. Invesco Ltd. owned 0.38% of JOYY worth $8,675,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raiffeisen Bank International AG bought a new position in shares of JOYY during the fourth quarter valued at about $85,000. Kathmere Capital Management LLC bought a new position in shares of JOYY during the first quarter valued at about $217,000. D Orazio & Associates Inc. bought a new position in shares of JOYY during the first quarter valued at about $235,000. Asset Management One Co. Ltd. bought a new position in shares of JOYY during the first quarter valued at about $253,000. Finally, Vise Technologies Inc. bought a new stake in shares of JOYY in the fourth quarter worth about $284,000. 36.83% of the stock is owned by institutional investors.

JOYY Price Performance

Shares of YY opened at $51.84 on Tuesday. JOYY Inc. has a one year low of $30.91 and a one year high of $55.3050. The company has a 50-day simple moving average of $51.34 and a two-hundred day simple moving average of $46.83. The firm has a market capitalization of $2.79 billion, a PE ratio of 15.66 and a beta of 0.21.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on JOYY in a research note on Monday, May 19th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

JOYY Profile

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.