Arrowstreet Capital Limited Partnership Has $32.80 Million Position in JOYY Inc. $YY

Arrowstreet Capital Limited Partnership lessened its position in JOYY Inc. (NASDAQ:YY) by 10.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 789,504 shares of the information services provider’s stock after selling 89,850 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.47% of JOYY worth $32,804,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Prudential PLC bought a new position in JOYY during the 1st quarter valued at about $44,090,000. BRIGHT VALLEY CAPITAL Ltd increased its holdings in shares of JOYY by 249.2% during the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider’s stock worth $55,113,000 after buying an additional 936,841 shares in the last quarter. Nuveen LLC bought a new position in shares of JOYY in the first quarter valued at approximately $16,926,000. Nan Fung Trinity HK Ltd. acquired a new position in shares of JOYY in the 2nd quarter worth approximately $11,538,000. Finally, MY.Alpha Management HK Advisors Ltd grew its position in JOYY by 176.2% during the 2nd quarter. MY.Alpha Management HK Advisors Ltd now owns 351,957 shares of the information services provider’s stock worth $14,624,000 after acquiring an additional 224,530 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on YY. Morgan Stanley set a $66.00 price objective on JOYY in a research note on Monday, November 24th. Citigroup reaffirmed a “buy” rating on shares of JOYY in a report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $66.00.

JOYY Stock Up 0.5%

Shares of YY stock opened at $62.26 on Friday. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 18.81 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 price of $59.77 and a 200 day moving average price of $55.01.

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.