Connor Clark & Lunn Investment Management Ltd. Has $5.70 Million Position in JOYY Inc. (NASDAQ:YY)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has increased its stake in JOYY Inc. by 57.8%, owning approximately $5.70 million worth of the company's shares.
• Institutional investors currently hold about 36.83% of JOYY's stock, reflecting growing interest among various funds.
• JOYY shares have performed within a 52-week range of $30.91 to $55.31, with a current market capitalization of $2.72 billion.

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 57.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,658 shares of the information services provider's stock after buying an additional 49,675 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of JOYY worth $5,695,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of YY. Raiffeisen Bank International AG acquired a new position in shares of JOYY in the 4th quarter valued at approximately $85,000. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of JOYY by 54.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock valued at $104,000 after purchasing an additional 883 shares during the period. Kathmere Capital Management LLC acquired a new position in shares of JOYY in the 1st quarter valued at approximately $217,000. D Orazio & Associates Inc. acquired a new position in shares of JOYY in the 1st quarter valued at approximately $235,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of JOYY in the 1st quarter valued at approximately $253,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Stock Performance

Shares of YY opened at $50.44 on Wednesday. The stock has a 50 day simple moving average of $50.98 and a 200 day simple moving average of $46.46. JOYY Inc. has a 52-week low of $30.91 and a 52-week high of $55.31. The firm has a market capitalization of $2.72 billion, a PE ratio of 15.24 and a beta of 0.21.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on JOYY in a research report on Monday, May 19th. They issued a "hold" rating for the company.

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.

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