JOYY Inc. $YY Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its holdings in JOYY Inc. (NASDAQ:YY) by 6.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,514,768 shares of the information services provider’s stock after selling 104,200 shares during the quarter. Acadian Asset Management LLC owned 2.81% of JOYY worth $62,939,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of YY. Kathmere Capital Management LLC acquired a new position in JOYY in the 1st quarter valued at $217,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of JOYY by 4,414.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider’s stock worth $18,111,000 after purchasing an additional 426,222 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in JOYY by 66.1% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 19,393 shares of the information services provider’s stock valued at $813,000 after acquiring an additional 7,714 shares during the period. Wealthquest Corp purchased a new position in JOYY in the 1st quarter valued at approximately $16,137,000. Finally, LSV Asset Management raised its holdings in JOYY by 14.3% in the first quarter. LSV Asset Management now owns 343,899 shares of the information services provider’s stock valued at $14,437,000 after acquiring an additional 43,100 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

Analyst Ratings Changes

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

JOYY Price Performance

Shares of YY opened at $59.50 on Monday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 17.98 and a beta of 0.21. The firm has a 50 day simple moving average of $59.59 and a 200-day simple moving average of $52.43. JOYY Inc. has a 1-year low of $30.91 and a 1-year high of $55.31.

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.