JOYY Inc. (NASDAQ:YY) Shares Acquired by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd increased its stake in JOYY Inc. by 66.1% during the first quarter, acquiring an additional 7,714 shares and bringing its total holdings to 19,393 shares, valued at approximately $813,000.
• Other hedge funds have also shown significant interest, with OVERSEA CHINESE BANKING Corp Ltd raising its stake by 4,414.1%, now owning 435,878 shares worth $18,111,000.
• As of the latest data, JOYY's stock price was $50.48, with a market cap of $2.72 billion and a price-to-earnings ratio of 15.25, reflecting a stable performance in its market listing.

Harvest Fund Management Co. Ltd grew its position in JOYY Inc. (NASDAQ:YY - Free Report) by 66.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,393 shares of the information services provider's stock after acquiring an additional 7,714 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in JOYY were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Raiffeisen Bank International AG purchased a new stake in shares of JOYY in the 4th quarter worth $85,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in 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 valued at $104,000 after purchasing an additional 883 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in JOYY during the 1st quarter valued at about $217,000. D Orazio & Associates Inc. purchased a new stake in shares of JOYY in the first quarter worth about $235,000. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of JOYY in the first quarter worth about $253,000. Institutional investors own 36.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on JOYY in a research report on Monday, May 19th. They set a "hold" rating on the stock.

JOYY Stock Up 0.6%

Shares of NASDAQ YY traded up $0.32 during midday trading on Monday, hitting $50.52. The stock had a trading volume of 295,067 shares, compared to its average volume of 523,246. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The company has a market capitalization of $2.72 billion, a PE ratio of 15.26 and a beta of 0.21. The stock has a 50 day simple moving average of $50.42 and a 200-day simple moving average of $46.16.

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.