13,159 Shares in JOYY Inc. $YY Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc has acquired a new stake in JOYY Inc., purchasing 13,159 shares valued at approximately $552,000 in the first quarter.
• Several large investors, including LPL Financial LLC and Barclays PLC, have also increased their holdings in JOYY, reflecting growing institutional interest in the company.
• The stock currently holds a consensus rating of "Moderate Buy" from analysts, with an average price target set at $35.00.

Aberdeen Group plc purchased a new stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,159 shares of the information services provider's stock, valued at approximately $552,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Krane Funds Advisors LLC boosted its position in shares of JOYY by 4.0% during the 1st quarter. Krane Funds Advisors LLC now owns 1,559,646 shares of the information services provider's stock worth $65,474,000 after purchasing an additional 59,565 shares in the last quarter. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in shares of JOYY in the 4th quarter worth about $57,840,000. BRIGHT VALLEY CAPITAL Ltd raised its holdings in shares of JOYY by 249.2% in the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider's stock worth $55,113,000 after acquiring an additional 936,841 shares during the last quarter. Prudential PLC acquired a new stake in shares of JOYY in the 1st quarter worth about $44,090,000. Finally, Tiger Pacific Capital LP raised its holdings in shares of JOYY by 23.1% in the 4th quarter. Tiger Pacific Capital LP now owns 680,676 shares of the information services provider's stock worth $28,486,000 after acquiring an additional 127,829 shares during the last quarter. Institutional investors own 36.83% of the company's stock.

JOYY Stock Performance

NASDAQ:YY traded up $2.00 during trading hours on Thursday, reaching $53.54. The company's stock had a trading volume of 701,363 shares, compared to its average volume of 523,246. The firm has a 50-day simple moving average of $51.43 and a 200-day simple moving average of $46.90. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 16.18 and a beta of 0.21.

Wall Street Analyst Weigh In

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

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.