JOYY Inc. $YY Shares Sold by Swedbank AB

Swedbank AB lowered its position in shares of JOYY Inc. (NASDAQ:YY) by 13.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 31,600 shares of the information services provider’s stock after selling 4,900 shares during the quarter. Swedbank AB owned about 0.06% of JOYY worth $1,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BRIGHT VALLEY CAPITAL Ltd lifted its holdings in shares of JOYY by 249.2% in the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider’s stock valued at $55,113,000 after buying an additional 936,841 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of JOYY by 34.1% in the 1st quarter. Vontobel Holding Ltd. now owns 7,835 shares of the information services provider’s stock valued at $329,000 after buying an additional 1,992 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of 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 period. Asset Management One Co. Ltd. acquired a new position in shares of JOYY in the 1st quarter valued at about $253,000. Finally, Caxton Associates LLP acquired a new position in shares of JOYY in the 1st quarter valued at about $2,612,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup restated a “buy” rating on shares of JOYY in a research note on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

JOYY Trading Up 0.0%

NASDAQ:YY opened at $62.55 on Wednesday. The firm has a market cap of $3.37 billion, a P/E ratio of 18.90 and a beta of 0.21. The stock has a 50 day moving average of $53.94 and a two-hundred day moving average of $48.03. JOYY Inc. has a 12 month low of $30.91 and a 12 month high of $55.31.

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.