Dodge & Cox Acquires 17,500 Shares of JOYY Inc. $YY

Key Points

• Dodge & Cox increased its stake in JOYY Inc. by 50% during Q1, acquiring 17,500 additional shares, bringing their total holdings to 52,466 shares valued at approximately $2.2 million.
• Several hedge funds have also increased their stakes in JOYY, with notable increases from BRIGHT VALLEY CAPITAL and Krane Funds Advisors, indicating growing institutional interest in the stock.
• JOYY currently has an average stock rating of "Moderate Buy" with a price target of $35, and shares are trading around $51.84, reflecting a strong market performance.

Dodge & Cox increased its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 50.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,466 shares of the information services provider's stock after buying an additional 17,500 shares during the period. Dodge & Cox owned about 0.10% of JOYY worth $2,203,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in YY. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of JOYY by 7.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,383 shares of the information services provider's stock worth $436,000 after purchasing an additional 727 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of JOYY in the first quarter worth about $57,000. Vontobel Holding Ltd. increased its stake in shares of JOYY by 34.1% in the first quarter. Vontobel Holding Ltd. now owns 7,835 shares of the information services provider's stock worth $329,000 after purchasing an additional 1,992 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in shares of JOYY in the fourth quarter worth about $85,000. Finally, QRG Capital Management Inc. increased its stake in shares of JOYY by 45.1% in the first quarter. QRG Capital Management Inc. now owns 9,585 shares of the information services provider's stock worth $402,000 after purchasing an additional 2,980 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Stock Up 3.9%

NASDAQ:YY traded up $2.00 during mid-day trading on Thursday, hitting $53.54. 701,363 shares of the stock traded hands, compared to its average volume of 523,246. JOYY Inc. has a 12-month low of $30.91 and a 12-month high of $55.31. The company has a market cap of $2.88 billion, a PE ratio of 16.18 and a beta of 0.21. The business's 50-day moving average price is $51.43 and its 200 day moving average price is $46.90.

Analyst Ratings Changes

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

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.