Invesco Ltd. Grows Stock Position 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. boosted its position in JOYY Inc. (NASDAQ:YY - Free Report) by 43.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 206,654 shares of the information services provider's stock after buying an additional 62,914 shares during the quarter. Invesco Ltd. owned approximately 0.38% of JOYY worth $8,675,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in YY. Barclays PLC boosted its stake in JOYY by 147.1% in the 4th quarter. Barclays PLC now owns 50,771 shares of the information services provider's stock valued at $2,124,000 after purchasing an additional 30,228 shares during the period. Marshall Wace LLP grew its position in shares of JOYY by 92.4% during the 4th quarter. Marshall Wace LLP now owns 35,367 shares of the information services provider's stock worth $1,480,000 after buying an additional 16,987 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in JOYY during the fourth quarter worth $2,988,000. Aquatic Capital Management LLC lifted its stake in JOYY by 533.7% during the 4th quarter. Aquatic Capital Management LLC now owns 29,783 shares of the information services provider's stock valued at $1,246,000 after acquiring an additional 25,083 shares in the last quarter. Finally, Northern Trust Corp raised its stake 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. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Trading Up 3.9%

YY traded up $2.00 on Thursday, hitting $53.54. 701,363 shares of the company's stock traded hands, 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 company's 50 day simple moving average is $51.48 and its 200-day simple moving average is $46.96. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 16.18 and a beta of 0.21.

Analyst Ratings Changes

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