Cresset Asset Management LLC Has $262,000 Holdings in JOYY Inc. $YY

Cresset Asset Management LLC decreased its position in shares of JOYY Inc. (NASDAQ:YY) by 32.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,234 shares of the information services provider’s stock after selling 3,057 shares during the period. Cresset Asset Management LLC’s holdings in JOYY were worth $262,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of JOYY by 7.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,383 shares of the information services provider’s stock valued at $436,000 after purchasing an additional 727 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in JOYY by 34.1% during the 1st quarter. Vontobel Holding Ltd. now owns 7,835 shares of the information services provider’s stock valued at $329,000 after purchasing an additional 1,992 shares during the period. Raiffeisen Bank International AG acquired a new stake in JOYY in the 4th quarter valued at approximately $85,000. QRG Capital Management Inc. grew its holdings in JOYY by 45.1% in the 1st quarter. QRG Capital Management Inc. now owns 9,585 shares of the information services provider’s stock valued at $402,000 after buying an additional 2,980 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in JOYY by 3.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 125,487 shares of the information services provider’s stock worth $5,252,000 after buying an additional 4,542 shares during the period. 36.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

JOYY Trading Up 1.4%

Shares of YY stock opened at $52.54 on Wednesday. The company has a market capitalization of $2.83 billion, a P/E ratio of 15.87 and a beta of 0.21. JOYY Inc. has a 12 month low of $30.91 and a 12 month high of $55.31. The stock has a 50 day moving average of $51.39 and a two-hundred day moving average of $46.87.

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. 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.