Nuveen LLC Invests $16.93 Million in JOYY Inc. $YY

Key Points

• Nuveen LLC has acquired 403,200 shares of JOYY Inc. valued at approximately $16.93 million, representing about 0.75% ownership of the company.
• Wall Street Zen initiated coverage on JOYY, assigning a "hold" rating with an average target price of $35.00.
• JOYY's stock performance shows a 1-year range between $30.91 and $55.30, with a current market cap of $2.66 billion.

Nuveen LLC bought a new position in shares of JOYY Inc. (NASDAQ:YY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 403,200 shares of the information services provider's stock, valued at approximately $16,926,000. Nuveen LLC owned approximately 0.75% of JOYY at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Raiffeisen Bank International AG acquired a new position in shares of JOYY during the fourth quarter worth $85,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of JOYY by 54.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock worth $104,000 after purchasing an additional 883 shares in the last quarter. Kathmere Capital Management LLC acquired a new position in shares of JOYY during the first quarter worth $217,000. D Orazio & Associates Inc. acquired a new position in shares of JOYY during the first quarter worth $235,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of JOYY during the first quarter worth $253,000. 36.83% of the stock is owned by institutional investors and hedge funds.

JOYY Trading Up 1.4%

YY stock traded up $0.70 during mid-day trading on Tuesday, reaching $52.54. 351,305 shares of the stock traded hands, compared to its average volume of 523,246. JOYY Inc. has a 52-week low of $30.91 and a 52-week high of $55.31. The company has a market cap of $2.83 billion, a P/E ratio of 15.87 and a beta of 0.21. The stock's fifty day moving average is $51.39 and its 200-day moving average is $46.87.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on shares of JOYY in a research report on Monday, May 19th. They set a "hold" rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

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.