Canada Pension Plan Investment Board Boosts Stake in JOYY Inc. $YY

Key Points

• The Canada Pension Plan Investment Board increased its stake in JOYY Inc. by 23.7% during the first quarter, acquiring an additional 101,173 shares for a total ownership of about 0.98% valued at $22.2 million.
• Wall Street analysts have given JOYY a consensus rating of "Moderate Buy" with an average target price of $35.00, indicating positive growth outlook.
• JOYY's shares opened at $54.06, reflecting a 4.6% increase with a market capitalization of $2.91 billion and a PE ratio of 16.33.

Canada Pension Plan Investment Board boosted its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 23.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 528,273 shares of the information services provider's stock after acquiring an additional 101,173 shares during the period. Canada Pension Plan Investment Board owned 0.98% of JOYY worth $22,177,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in JOYY by 7.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,383 shares of the information services provider's stock valued at $436,000 after purchasing an additional 727 shares in the last quarter. SVB Wealth LLC purchased a new stake in JOYY in the 1st quarter valued at approximately $57,000. Vontobel Holding Ltd. boosted its holdings in JOYY by 34.1% in the 1st quarter. Vontobel Holding Ltd. now owns 7,835 shares of the information services provider's stock valued at $329,000 after purchasing an additional 1,992 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in JOYY in the 4th quarter valued at approximately $85,000. Finally, QRG Capital Management Inc. boosted its holdings in JOYY by 45.1% in the 1st quarter. QRG Capital Management Inc. now owns 9,585 shares of the information services provider's stock valued at $402,000 after purchasing an additional 2,980 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Trading Up 0.9%

Shares of NASDAQ:YY traded up $0.53 during trading on Friday, hitting $62.57. 1,298,365 shares of the stock were exchanged, compared to its average volume of 523,246. The company has a fifty day moving average price of $52.27 and a two-hundred day moving average price of $47.37. The company has a market cap of $3.37 billion, a PE ratio of 18.90 and a beta of 0.21. JOYY Inc. has a 12-month low of $30.91 and a 12-month high of $55.31.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on YY shares. Citigroup reaffirmed a "buy" rating on shares of JOYY in a report on Tuesday. Wall Street Zen initiated coverage on JOYY in a report on Monday, May 19th. They issued a "hold" rating on the stock. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy".

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.