Nuveen LLC Acquires Shares of 403,200 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 purchased a new stake in JOYY Inc. (NASDAQ:YY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 403,200 shares of the information services provider's stock, valued at approximately $16,926,000. Nuveen LLC owned approximately 0.75% of JOYY as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of YY. Raiffeisen Bank International AG acquired a new stake in JOYY during the fourth quarter worth about $85,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of JOYY by 54.8% in the 4th 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 in the last quarter. Kathmere Capital Management LLC acquired a new stake in shares of JOYY in the 1st quarter valued at approximately $217,000. D Orazio & Associates Inc. bought a new position in JOYY in the 1st quarter valued at approximately $235,000. Finally, Asset Management One Co. Ltd. bought a new position in JOYY in the 1st quarter valued at approximately $253,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Price Performance

Shares of NASDAQ YY traded up $0.98 during trading on Friday, hitting $51.84. The stock had a trading volume of 378,854 shares, compared to its average volume of 523,246. JOYY Inc. has a 12 month low of $30.91 and a 12 month high of $55.3050. The company has a market capitalization of $2.79 billion, a PE ratio of 15.66 and a beta of 0.21. The firm has a fifty day moving average of $51.28 and a two-hundred day moving average of $46.78.

Wall Street Analyst Weigh In

Separately, Wall Street Zen assumed coverage on JOYY in a report on Monday, May 19th. They issued a "hold" rating for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

JOYY 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.