BRIGHT VALLEY CAPITAL Ltd Purchases 936,841 Shares of JOYY Inc. $YY

Key Points

• BRIGHT VALLEY CAPITAL Ltd increased its holdings in JOYY Inc. by 249.2%, owning 1,312,841 shares, which represents about 18.5% of its investment portfolio.
• Several other institutional investors also amassed shares in JOYY, with notable increases from OVERSEA CHINESE BANKING Corp Ltd increasing its holdings by 4,414.1%.
• JOYY's stock opened at $50.44 with a market cap of $2.71 billion, and currently holds a PE ratio of 15.24.

BRIGHT VALLEY CAPITAL Ltd increased its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 249.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,312,841 shares of the information services provider's stock after acquiring an additional 936,841 shares during the period. JOYY comprises approximately 18.5% of BRIGHT VALLEY CAPITAL Ltd's holdings, making the stock its 2nd largest holding. BRIGHT VALLEY CAPITAL Ltd owned approximately 2.44% of JOYY worth $55,113,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of YY. Krane Funds Advisors LLC lifted its stake in shares of JOYY by 4.0% during the first quarter. Krane Funds Advisors LLC now owns 1,559,646 shares of the information services provider's stock valued at $65,474,000 after acquiring an additional 59,565 shares during the period. OLP CAPITAL MANAGEMENT Ltd bought a new position in shares of JOYY in the 4th quarter worth $57,840,000. Prudential PLC bought a new position in shares of JOYY in the 1st quarter worth $44,090,000. Tiger Pacific Capital LP boosted its position in shares of JOYY by 23.1% in the 4th quarter. Tiger Pacific Capital LP now owns 680,676 shares of the information services provider's stock worth $28,486,000 after purchasing an additional 127,829 shares during the last quarter. Finally, MY.Alpha Management HK Advisors Ltd boosted its position in shares of JOYY by 23.3% in the 4th quarter. MY.Alpha Management HK Advisors Ltd now owns 575,318 shares of the information services provider's stock worth $24,077,000 after purchasing an additional 108,849 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors.

JOYY Stock Performance

Shares of NASDAQ:YY remained flat at $50.37 during midday trading on Monday. The stock had a trading volume of 221,568 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 cap of $2.71 billion, a PE ratio of 15.22 and a beta of 0.21. The business has a 50 day moving average of $51.18 and a two-hundred day moving average of $46.60.

Analyst Ratings Changes

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

JOYY Company 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.