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 grew its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 50.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,466 shares of the information services provider's stock after acquiring an additional 17,500 shares during the quarter. Dodge & Cox owned 0.10% of JOYY worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of YY. SVB Wealth LLC bought a new stake in shares of JOYY in the first quarter valued at approximately $57,000. Raiffeisen Bank International AG bought a new stake in shares of JOYY in the fourth quarter valued at approximately $85,000. Kathmere Capital Management LLC bought a new stake in shares of JOYY in the first quarter valued at approximately $217,000. D Orazio & Associates Inc. acquired a new position in shares of JOYY in the first quarter valued at $235,000. Finally, Asset Management One Co. Ltd. acquired a new position in shares of JOYY in the first quarter valued at $253,000. 36.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on JOYY in a research note on Monday, May 19th. They issued a "hold" rating for the company. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.00.

JOYY Price Performance

YY traded down $1.87 during trading on Friday, hitting $51.67. The stock had a trading volume of 273,148 shares, compared to its average volume of 523,246. The company has a 50 day moving average price of $51.48 and a 200-day moving average price of $46.96. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 15.61 and a beta of 0.21. JOYY Inc. has a one year low of $30.91 and a one year high of $55.31.

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.