Causeway Capital Management LLC Makes New $3.69 Million Investment in JOYY Inc. $YY

Key Points

• Causeway Capital Management LLC has invested approximately $3.69 million in JOYY Inc. by acquiring 87,784 shares, representing a 0.16% ownership in the company.
• JOYY's stock price increased by 1.9%, trading at $51.84, with a market capitalization of $2.79 billion and a P/E ratio of 15.66.
• The stock currently holds a consensus rating of "Moderate Buy" among analysts, with an average price target of $35.00.

Causeway Capital Management LLC bought a new position in shares of JOYY Inc. (NASDAQ:YY - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 87,784 shares of the information services provider's stock, valued at approximately $3,685,000. Causeway Capital Management LLC owned 0.16% of JOYY as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of YY. Barclays PLC raised its holdings in JOYY by 147.1% during the 4th quarter. Barclays PLC now owns 50,771 shares of the information services provider's stock worth $2,124,000 after buying an additional 30,228 shares during the period. Marshall Wace LLP raised its holdings in JOYY by 92.4% during the 4th quarter. Marshall Wace LLP now owns 35,367 shares of the information services provider's stock worth $1,480,000 after buying an additional 16,987 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in JOYY during the 4th quarter worth approximately $2,988,000. Aquatic Capital Management LLC raised its holdings in JOYY by 533.7% during the 4th quarter. Aquatic Capital Management LLC now owns 29,783 shares of the information services provider's stock worth $1,246,000 after buying an additional 25,083 shares during the period. Finally, Northern Trust Corp raised its holdings in JOYY by 66.0% during the 4th quarter. Northern Trust Corp now owns 94,126 shares of the information services provider's stock worth $3,939,000 after buying an additional 37,435 shares during the period. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Stock Up 1.9%

Shares of YY opened at $51.84 on Tuesday. The stock has a market capitalization of $2.79 billion, a P/E ratio of 15.66 and a beta of 0.21. JOYY Inc. has a twelve month low of $30.91 and a twelve month high of $55.3050. The company has a 50 day moving average of $51.34 and a 200-day moving average of $46.83.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on shares of JOYY in a report on Monday, May 19th. They set a "hold" rating on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, JOYY presently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

About JOYY

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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