Aberdeen Group plc Takes Position in JOYY Inc. $YY

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 acquired a new position in JOYY Inc. (NASDAQ:YY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,159 shares of the information services provider's stock, valued at approximately $552,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of YY. LPL Financial LLC grew its position in shares of JOYY by 18.4% in the 4th quarter. LPL Financial LLC now owns 13,419 shares of the information services provider's stock worth $562,000 after buying an additional 2,088 shares during the last quarter. Barclays PLC grew its position in shares of JOYY by 147.1% in the 4th quarter. Barclays PLC now owns 50,771 shares of the information services provider's stock worth $2,124,000 after buying an additional 30,228 shares during the last quarter. Marshall Wace LLP grew its position in shares of JOYY by 92.4% in the 4th quarter. Marshall Wace LLP now owns 35,367 shares of the information services provider's stock worth $1,480,000 after buying an additional 16,987 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position 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 worth $104,000 after buying an additional 883 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of JOYY in the 4th quarter worth approximately $2,988,000. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Trading Down 1.9%

NASDAQ YY traded down $1.00 on Wednesday, hitting $51.54. 456,407 shares of the company's stock traded hands, compared to its average volume of 523,246. JOYY Inc. has a 1-year low of $30.91 and a 1-year high of $55.31. The firm's 50-day moving average price is $51.39 and its two-hundred day moving average price is $46.87. The firm has a market capitalization of $2.77 billion, a PE ratio of 15.57 and a beta of 0.21.

Wall Street Analysts Forecast Growth

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