E Fund Management Hong Kong Co. Ltd. Has $632,000 Stock Position in JOYY Inc. $YY

Key Points

• E Fund Management Hong Kong Co. Ltd. reduced its stake in JOYY Inc. by 22.8%, holding 15,217 shares valued at approximately $632,000.
• Institutional investors own 36.83% of JOYY's stock, with several firms making new investments or significantly increasing their positions during the last quarter.
• JOYY's stock has fluctuated between a 12-month low of $30.91 and a high of $55.31, currently trading at $57.77.

E Fund Management Hong Kong Co. Ltd. lowered its position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 22.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,217 shares of the information services provider's stock after selling 4,506 shares during the quarter. JOYY makes up about 0.6% of E Fund Management Hong Kong Co. Ltd.'s investment portfolio, making the stock its 20th largest position. E Fund Management Hong Kong Co. Ltd.'s holdings in JOYY were worth $632,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in YY. Farther Finance Advisors LLC boosted its holdings in JOYY by 5,718.2% in the second quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider's stock valued at $27,000 after acquiring an additional 629 shares during the last quarter. SVB Wealth LLC bought a new position in JOYY in the first quarter valued at about $57,000. Kathmere Capital Management LLC bought a new position in JOYY in the first quarter valued at about $217,000. D Orazio & Associates Inc. bought a new position in JOYY in the first quarter valued at about $235,000. Finally, Asset Management One Co. Ltd. bought a new position in JOYY in the first quarter valued at about $253,000. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Down 1.0%

Shares of JOYY stock opened at $57.77 on Thursday. JOYY Inc. has a 12 month low of $30.91 and a 12 month high of $55.31. The business has a fifty day simple moving average of $56.18 and a 200 day simple moving average of $49.44. The stock has a market cap of $3.11 billion, a PE ratio of 17.45 and a beta of 0.21.

Analyst Ratings Changes

Separately, Citigroup reiterated a "buy" rating on shares of JOYY in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy".

About JOYY

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.

Want to see what other hedge funds are holding YY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JOYY Inc. (NASDAQ:YY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.