Caxton Associates LLP Takes Position 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 purchased a new stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 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 filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OLP CAPITAL MANAGEMENT Ltd purchased a new stake in shares of JOYY during the fourth quarter worth $57,840,000. Prudential PLC acquired a new position in shares of JOYY during the first quarter worth $44,090,000. BRIGHT VALLEY CAPITAL Ltd grew its stake in shares of JOYY by 249.2% during the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider's stock worth $55,113,000 after purchasing an additional 936,841 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of JOYY by 4,414.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider's stock worth $18,111,000 after purchasing an additional 426,222 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of JOYY during the first quarter worth $16,926,000. Hedge funds and other institutional investors own 36.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on YY shares. Citigroup restated a "buy" rating on shares of JOYY in a research note on Tuesday, September 2nd. Wall Street Zen began coverage on shares of JOYY in a research note on Monday, May 19th. They set a "hold" rating for the company. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

JOYY Stock Performance

JOYY stock traded down $0.84 during trading on Thursday, reaching $62.96. 630,012 shares of the company's stock were exchanged, compared to its average volume of 523,246. The company's 50-day moving average is $53.25 and its two-hundred day moving average is $47.76. JOYY Inc. has a 52-week low of $30.91 and a 52-week high of $55.31. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 19.02 and a beta of 0.21.

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.