Connor Clark & Lunn Investment Management Ltd. Boosts Stake 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 position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 57.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,658 shares of the information services provider's stock after acquiring an additional 49,675 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of JOYY worth $5,695,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Raiffeisen Bank International AG bought a new position in shares of JOYY during the 4th quarter worth about $85,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of JOYY by 54.8% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock worth $104,000 after purchasing an additional 883 shares in the last quarter. Kathmere Capital Management LLC acquired a new stake in shares of JOYY in the 1st quarter worth about $217,000. D Orazio & Associates Inc. bought a new position in JOYY in the 1st quarter valued at about $235,000. Finally, Asset Management One Co. Ltd. bought a new position in JOYY in the 1st quarter valued at about $253,000. Institutional investors own 36.83% of the company's stock.

JOYY Price Performance

NASDAQ YY remained flat at $50.37 during trading hours on Friday. 221,568 shares of the company traded hands, compared to its average volume of 523,246. JOYY Inc. has a twelve month low of $30.91 and a twelve month high of $55.31. The stock has a market capitalization of $2.71 billion, a P/E ratio of 15.22 and a beta of 0.21. The company's 50 day moving average price is $51.18 and its 200-day moving average price is $46.59.

Wall Street Analysts Forecast Growth

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

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.