Asset Management One Co. Ltd. Acquires New Stake in JOYY Inc. (NASDAQ:YY)

Asset Management One Co. Ltd. purchased a new position in JOYY Inc. (NASDAQ:YY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,030 shares of the information services provider's stock, valued at approximately $253,000.

A number of other large investors have also modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in JOYY in the fourth quarter worth approximately $25,000. Rhumbline Advisers raised its holdings in shares of JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock valued at $55,000 after purchasing an additional 510 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of JOYY in the 4th quarter valued at $85,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of 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 worth $104,000 after purchasing an additional 883 shares during the last quarter. Finally, D Orazio & Associates Inc. purchased a new stake in shares of JOYY during the 1st quarter worth $235,000. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Trading Up 0.0%

YY stock traded up $0.01 during trading on Tuesday, hitting $50.91. 140,850 shares of the company's stock were exchanged, compared to its average volume of 510,195. The business has a 50-day moving average price of $45.43 and a two-hundred day moving average price of $44.07. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 15.38 and a beta of 0.21. JOYY Inc. has a 52-week low of $30.13 and a 52-week high of $55.31.

Wall Street Analysts Forecast Growth

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

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.