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 trimmed its position in JOYY Inc. (NASDAQ:YY - Free Report) by 67.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,065 shares of the information services provider's stock after selling 10,683 shares during the period. Hsbc Holdings PLC's holdings in JOYY were worth $213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BRIGHT VALLEY CAPITAL Ltd boosted its holdings in shares of JOYY by 249.2% during the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider's stock valued at $55,113,000 after buying an additional 936,841 shares in the last quarter. Vontobel Holding Ltd. lifted its position in JOYY by 34.1% during the 1st quarter. Vontobel Holding Ltd. now owns 7,835 shares of the information services provider's stock valued at $329,000 after acquiring an additional 1,992 shares during the period. QRG Capital Management Inc. boosted its stake in JOYY by 45.1% during the first quarter. QRG Capital Management Inc. now owns 9,585 shares of the information services provider's stock worth $402,000 after acquiring an additional 2,980 shares in the last quarter. Asset Management One Co. Ltd. bought a new stake in JOYY during the first quarter worth about $253,000. Finally, Nuveen Asset Management LLC grew its holdings in JOYY by 5.5% in the fourth quarter. Nuveen Asset Management LLC now owns 344,400 shares of the information services provider's stock worth $14,413,000 after purchasing an additional 18,100 shares during the period. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Price Performance

Shares of YY stock traded up $0.53 during trading hours on Monday, hitting $62.57. The stock had a trading volume of 1,298,365 shares, compared to its average volume of 523,246. JOYY Inc. has a one year low of $30.91 and a one year high of $55.31. The stock's 50-day moving average price is $52.50 and its two-hundred day moving average price is $47.44. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 18.90 and a beta of 0.21.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on YY. Citigroup reiterated a "buy" rating on shares of JOYY in a report on Tuesday, September 2nd. Wall Street Zen initiated coverage on JOYY in a research note on Monday, May 19th. They issued a "hold" rating on the stock. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy".

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.