JOYY Inc. (NASDAQ:YY) Holdings Boosted by BRIGHT VALLEY CAPITAL Ltd

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 grew its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 249.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,312,841 shares of the information services provider's stock after acquiring an additional 936,841 shares during the period. JOYY comprises about 18.5% of BRIGHT VALLEY CAPITAL Ltd's investment portfolio, making the stock its 2nd biggest position. BRIGHT VALLEY CAPITAL Ltd owned about 2.44% of JOYY worth $55,113,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. OLP CAPITAL MANAGEMENT Ltd bought a new stake in shares of JOYY in the fourth quarter worth about $57,840,000. Prudential PLC bought a new stake in shares of JOYY in the first quarter worth about $44,090,000. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of JOYY by 4,414.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider's stock worth $18,111,000 after purchasing an additional 426,222 shares during the last quarter. Nuveen LLC bought a new stake in shares of JOYY in the first quarter worth about $16,926,000. Finally, Wealthquest Corp bought a new stake in JOYY during the first quarter worth approximately $16,137,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Price Performance

Shares of YY stock opened at $50.44 on Thursday. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The stock's 50 day simple moving average is $51.05 and its two-hundred day simple moving average is $46.49. The company has a market cap of $2.71 billion, a PE ratio of 15.24 and a beta of 0.21.

Analyst Upgrades and Downgrades

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.