Hsbc Holdings PLC Sells 10,683 Shares of JOYY Inc. $YY

Key Points

• HSBC Holdings PLC reduced its stake in JOYY Inc. by 67.8%, leaving it with 5,065 shares valued at $213,000 by the end of the first quarter.
• Other large investors, such as Krane Funds Advisors LLC and BRIGHT VALLEY CAPITAL Ltd, have increased their holdings in JOYY Inc., indicating shifting investor interest in the stock.
• JOYY Inc. has received a mix of ratings, with Citigroup reaffirming a "buy" rating and an average rating of "buy" according to analysts.

Hsbc Holdings PLC decreased its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 67.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,065 shares of the information services provider's stock after selling 10,683 shares during the quarter. Hsbc Holdings PLC's holdings in JOYY were worth $213,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in YY. Northern Trust Corp increased its holdings in shares of JOYY by 66.0% during the 4th quarter. Northern Trust Corp now owns 94,126 shares of the information services provider's stock worth $3,939,000 after purchasing an additional 37,435 shares during the period. BNP Paribas Financial Markets bought a new stake in JOYY in the fourth quarter valued at about $15,448,000. Balyasny Asset Management L.P. bought a new stake in JOYY in the fourth quarter valued at about $285,000. Cubist Systematic Strategies LLC bought a new stake in JOYY in the fourth quarter valued at about $2,653,000. Finally, D. E. Shaw & Co. Inc. increased its stake in JOYY by 1,793.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider's stock valued at $12,737,000 after acquiring an additional 288,285 shares during the period. Institutional investors own 36.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on YY shares. Citigroup reissued a "buy" rating on shares of JOYY in a research note on Tuesday, September 2nd. Wall Street Zen started coverage on shares of JOYY in a research note on Monday, May 19th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy".

JOYY Stock Down 1.3%

Shares of YY stock traded down $0.84 on Thursday, reaching $62.96. The stock had a trading volume of 630,012 shares, compared to its average volume of 523,246. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 19.02 and a beta of 0.21. JOYY Inc. has a 12 month low of $30.91 and a 12 month high of $55.31. The firm's 50-day moving average is $53.25 and its two-hundred day moving average is $47.76.

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.