JOYY Inc. (NASDAQ:YY) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 33.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,145 shares of the information services provider's stock after selling 49,894 shares during the quarter. Allianz Asset Management GmbH owned 0.18% of JOYY worth $4,120,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

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

JOYY Trading Down 0.2%

JOYY stock traded down $0.11 during midday trading on Friday, reaching $50.20. The company's stock had a trading volume of 206,847 shares, 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 business has a 50-day moving average price of $50.29 and a 200-day moving average price of $46.02. The stock has a market cap of $2.70 billion, a PE ratio of 15.17 and a beta of 0.21.

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.