China Universal Asset Management Co. Ltd. Takes Position in JOYY Inc. Sponsored ADR $JOYY

China Universal Asset Management Co. Ltd. bought a new stake in JOYY Inc. Sponsored ADR (NASDAQ:JOYY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,000 shares of the company’s stock, valued at approximately $715,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in JOYY during the third quarter valued at approximately $142,000. SBI Securities Co. Ltd. acquired a new stake in JOYY in the 3rd quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in JOYY in the third quarter valued at $87,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in JOYY during the third quarter worth $1,189,000. Finally, SG Americas Securities LLC bought a new position in shares of JOYY during the third quarter valued at $306,000. Institutional investors own 36.83% of the company’s stock.

JOYY Stock Up 0.9%

JOYY opened at $62.56 on Friday. JOYY Inc. Sponsored ADR has a 1-year low of $37.53 and a 1-year high of $70.96. The firm has a market cap of $3.21 billion, a PE ratio of 1.94 and a beta of 0.39. The company has a 50-day moving average of $65.49.

Wall Street Analysts Forecast Growth

JOYY has been the topic of several analyst reports. Zacks Research lowered shares of JOYY from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Citigroup boosted their price target on shares of JOYY from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of JOYY in a report on Thursday, January 22nd. Wall Street Zen cut shares of JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Morgan Stanley set a $66.00 price target on JOYY in a research report on Monday, November 24th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.00.

JOYY Profile

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.