JOYY Inc. (NASDAQ:YY) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its holdings in shares of JOYY Inc. (NASDAQ:YY) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,051 shares of the information services provider’s stock after purchasing an additional 1,171 shares during the period. California Public Employees Retirement System’s holdings in JOYY were worth $2,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. lifted its position in JOYY by 6.3% in the third quarter. Asset Management One Co. Ltd. now owns 6,786 shares of the information services provider’s stock worth $259,000 after purchasing an additional 402 shares during the period. Assetmark Inc. lifted its holdings in shares of JOYY by 62.2% in the third quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock valued at $85,000 after buying an additional 854 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in JOYY by 14.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 90,400 shares of the information services provider’s stock valued at $3,445,000 after buying an additional 11,719 shares in the last quarter. Principal Financial Group Inc. grew its holdings in JOYY by 5.4% during the third quarter. Principal Financial Group Inc. now owns 18,652 shares of the information services provider’s stock worth $711,000 after acquiring an additional 963 shares during the period. Finally, Signaturefd LLC raised its position in JOYY by 14.7% in the third quarter. Signaturefd LLC now owns 4,020 shares of the information services provider’s stock worth $153,000 after acquiring an additional 514 shares in the last quarter. 36.83% of the stock is currently owned by institutional investors.

JOYY Trading Down 0.1 %

Shares of YY opened at $33.77 on Monday. The business’s 50-day moving average price is $32.32 and its 200 day moving average price is $35.00. The stock has a market capitalization of $2.09 billion, a P/E ratio of 6.79 and a beta of 0.35. JOYY Inc. has a 1-year low of $24.12 and a 1-year high of $43.20.

JOYY (NASDAQ:YY) last released its earnings results on Monday, March 18th. The information services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. JOYY had a net margin of 13.31% and a return on equity of 5.13%. The business had revenue of $569.84 million for the quarter, compared to the consensus estimate of $572.51 million. During the same period last year, the firm posted $0.49 earnings per share. On average, research analysts predict that JOYY Inc. will post 3.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

YY has been the topic of several recent research reports. Bank of America reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of JOYY in a research note on Monday, March 25th. StockNews.com raised JOYY from a “hold” rating to a “buy” rating in a report on Friday.

JOYY Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.