Ariose Capital Management Ltd Buys Shares of 77,837 JOYY Inc. $YY

Key Points

• Ariose Capital Management Ltd acquired 77,837 shares of JOYY Inc., valued at approximately $3,234,000, making it the 13th largest position in its investment portfolio.
• Citigroup reaffirmed a "buy" rating on JOYY shares, contributing to a consensus rating of "Buy" from multiple analysts.
• JOYY Inc. has a market capitalization of $3.15 billion and experienced a 1.4% decline in trading, with a current stock price of $58.55.

Ariose Capital Management Ltd acquired a new position in shares of JOYY Inc. (NASDAQ:YY - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 77,837 shares of the information services provider's stock, valued at approximately $3,234,000. JOYY comprises approximately 2.1% of Ariose Capital Management Ltd's investment portfolio, making the stock its 13th biggest position. Ariose Capital Management Ltd owned 0.14% of JOYY at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kathmere Capital Management LLC increased its position in shares of JOYY by 25.9% during the second quarter. Kathmere Capital Management LLC now owns 6,524 shares of the information services provider's stock valued at $271,000 after acquiring an additional 1,344 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of JOYY by 0.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 128,826 shares of the information services provider's stock worth $5,353,000 after purchasing an additional 1,115 shares during the period. Farther Finance Advisors LLC increased its holdings in JOYY by 5,718.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider's stock valued at $27,000 after purchasing an additional 629 shares during the last quarter. Baron Wealth Management LLC lifted its stake in JOYY by 29.5% during the second quarter. Baron Wealth Management LLC now owns 8,076 shares of the information services provider's stock worth $336,000 after purchasing an additional 1,841 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of JOYY during the first quarter worth $2,612,000. Institutional investors and hedge funds own 36.83% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup reaffirmed a "buy" rating on shares of JOYY in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, JOYY presently has a consensus rating of "Buy".

JOYY Trading Down 1.4%

NASDAQ YY opened at $58.55 on Friday. The company has a market capitalization of $3.15 billion, a PE ratio of 17.69 and a beta of 0.21. The business's 50-day moving average price is $55.16 and its 200 day moving average price is $48.76. JOYY Inc. has a twelve month low of $30.91 and a twelve month high of $55.31.

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.

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