1,034,249 Shares in JOYY Inc. (NASDAQ:YY) Bought by Prudential PLC

Key Points

• Prudential PLC has acquired 1,034,249 shares of JOYY Inc. (NASDAQ: YY), valued at approximately $44 million, representing about 1.92% of the company's total shares.
• JOYY's market capitalization stands at $2.73 billion, with shares currently priced at around $50.65, experiencing a 1-year low of $30.91 and a high of $55.31.
• Recent analyst coverage initiated by Wall Street Zen has issued a "hold" rating for JOYY, indicating a cautious outlook on the stock's performance.

Prudential PLC acquired a new position in shares of JOYY Inc. (NASDAQ:YY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,034,249 shares of the information services provider's stock, valued at approximately $44,090,000. Prudential PLC owned about 1.92% of JOYY as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of YY. Raiffeisen Bank International AG bought a new position in JOYY in the fourth quarter valued at about $85,000. BI Asset Management Fondsmaeglerselskab A S raised its position in JOYY by 54.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock valued at $104,000 after purchasing an additional 883 shares during the last quarter. Kathmere Capital Management LLC bought a new position in JOYY in the first quarter valued at about $217,000. D Orazio & Associates Inc. bought a new position in JOYY in the first quarter valued at about $235,000. Finally, Asset Management One Co. Ltd. bought a new position in JOYY in the first quarter valued at about $253,000. 36.83% of the stock is currently owned by institutional investors.

JOYY Price Performance

Shares of YY opened at $50.65 on Tuesday. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 15.30 and a beta of 0.21. The business has a 50-day moving average of $50.93 and a 200-day moving average of $46.43.

Analyst Ratings Changes

Separately, Wall Street Zen started coverage on JOYY in a research report on Monday, May 19th. They issued a "hold" rating for the company.

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.

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