Caxton Associates LLP Makes New $2.61 Million Investment in JOYY Inc. $YY

Key Points

• Caxton Associates LLP invested approximately $2.61 million in shares of JOYY Inc., acquiring 62,230 shares in the first quarter, representing about 0.12% ownership of the company.
• The stock of JOYY Inc. has shown a one-year price range between a low of $30.91 and a high of $55.31, and it has a current market capitalization of $3.37 billion.
• Out of several recent analyst reports, Citigroup reiterated a "buy" rating, while the average stock rating for JOYY Inc. is currently a "Buy".

Caxton Associates LLP bought a new stake in JOYY Inc. (NASDAQ:YY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 62,230 shares of the information services provider's stock, valued at approximately $2,612,000. Caxton Associates LLP owned 0.12% of JOYY as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in JOYY by 127.8% in the first quarter. Millennium Management LLC now owns 123,242 shares of the information services provider's stock valued at $5,174,000 after acquiring an additional 69,132 shares during the period. Amundi boosted its stake in JOYY by 26.2% in the first quarter. Amundi now owns 30,794 shares of the information services provider's stock valued at $1,296,000 after acquiring an additional 6,402 shares during the period. Aprio Wealth Management LLC boosted its stake in JOYY by 33.0% in the first quarter. Aprio Wealth Management LLC now owns 6,427 shares of the information services provider's stock valued at $270,000 after acquiring an additional 1,596 shares during the period. Hhlr Advisors LTD. boosted its stake in JOYY by 13.3% in the first quarter. Hhlr Advisors LTD. now owns 34,000 shares of the information services provider's stock valued at $1,427,000 after acquiring an additional 4,000 shares during the period. Finally, Royal Bank of Canada boosted its stake in JOYY by 25.6% in the first quarter. Royal Bank of Canada now owns 46,843 shares of the information services provider's stock valued at $1,966,000 after acquiring an additional 9,543 shares during the period. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Price Performance

Shares of NASDAQ YY traded up $0.86 during midday trading on Friday, hitting $62.53. 591,138 shares of the company's stock were exchanged, compared to its average volume of 523,246. The stock's 50 day moving average price is $53.47 and its 200-day moving average price is $47.82. The firm has a market cap of $3.37 billion, a P/E ratio of 18.89 and a beta of 0.21. JOYY Inc. has a twelve month low of $30.91 and a twelve month high of $55.31.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on YY shares. Citigroup restated a "buy" rating on shares of JOYY in a research note on Tuesday, September 2nd. Wall Street Zen started coverage on JOYY in a research note on Monday, May 19th. They issued a "hold" rating for the company. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, JOYY currently has a consensus rating of "Buy".

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.