Invesco Ltd. Boosts Holdings in JOYY Inc. $YY

Key Points

• Invesco Ltd. increased its stake in JOYY Inc. by 43.8%, acquiring an additional 62,914 shares during the first quarter, bringing its total holdings to 206,654 shares valued at approximately $8.68 million.
• Other institutional investors have also shown interest in JOYY, with several firms like Raiffeisen Bank and Kathmere Capital Management acquiring new positions in the company recently.
• Wall Street analysts currently rate JOYY as a Moderate Buy with a consensus price target of $35.00, amidst fluctuating share prices ranging between $30.91 and $55.30 in the past year.

Invesco Ltd. increased its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 43.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,654 shares of the information services provider's stock after buying an additional 62,914 shares during the period. Invesco Ltd. owned about 0.38% of JOYY worth $8,675,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raiffeisen Bank International AG purchased a new stake in shares of JOYY in the 4th quarter worth about $85,000. Kathmere Capital Management LLC purchased a new stake in shares of JOYY in the 1st quarter worth about $217,000. D Orazio & Associates Inc. purchased a new stake in JOYY during the 1st quarter worth about $235,000. Asset Management One Co. Ltd. purchased a new stake in JOYY during the 1st quarter worth about $253,000. Finally, Vise Technologies Inc. purchased a new stake in JOYY during the 4th quarter worth about $284,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Stock Performance

JOYY stock traded up $2.39 during midday trading on Friday, reaching $54.06. 623,870 shares of the company were exchanged, compared to its average volume of 523,246. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 16.33 and a beta of 0.21. The firm's 50-day simple moving average is $51.51 and its 200-day simple moving average is $47.02. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on JOYY in a research report on Monday, May 19th. They set a "hold" rating for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

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.