JOYY Inc. $YY Shares Purchased by Amundi

Key Points

• Amundi has increased its stake in JOYY Inc. by 26.2%, acquiring 6,402 additional shares, raising its total ownership to 30,794 shares valued at approximately $1.3 million.
• Several other investors, including Royal Bank of Canada and Canada Pension Plan Investment Board, have also boosted their holdings in JOYY during the first quarter, contributing to institutional ownership totaling 36.83%.
• JOYY's stock is currently trading at about $61.67 after experiencing a 12-month high of $55.31 and is rated as a "buy" by multiple analysts.

Amundi lifted its position in JOYY Inc. (NASDAQ:YY - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,794 shares of the information services provider's stock after purchasing an additional 6,402 shares during the quarter. Amundi owned about 0.06% of JOYY worth $1,296,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. SVB Wealth LLC purchased a new position in shares of JOYY in the first quarter worth about $57,000. Raiffeisen Bank International AG purchased a new position in JOYY during the fourth quarter valued at approximately $85,000. Kathmere Capital Management LLC purchased a new position in JOYY during the first quarter valued at approximately $217,000. D Orazio & Associates Inc. purchased a new position in JOYY during the first quarter valued at approximately $235,000. Finally, Asset Management One Co. Ltd. purchased a new position in JOYY during the first quarter valued at approximately $253,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Citigroup reiterated a "buy" rating on shares of JOYY in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy".

JOYY Stock Down 0.3%

NASDAQ YY traded down $0.22 during mid-day trading on Thursday, hitting $62.68. The stock had a trading volume of 848,545 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 company has a market cap of $3.37 billion, a price-to-earnings ratio of 18.94 and a beta of 0.21. The company has a 50 day simple moving average of $54.31 and a 200 day simple moving average of $48.24.

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.